MUMBAI, Mar. 11, 2008 (Thomson Financial delivered by Newstex) -- Standard & Poor's (NYSE:MHP) Ratings Services said it affirmed its 'BBB' long-term and 'A-2' short-term corporate credit ratings on UK confectionery maker Cadbury Schweppes (NYSE:CSG) PLC with a stable outlook.
S&P said the move reflects its view that the proposed de-merger of the US beverages business of Cadbury should not result in a material deterioration of the continuing group's credit profile.
The ratings also reflect the strong position of the group's international confectionery business, which is supported by a well-established portfolio of brands, S&P added.
The stable outlook reflects its view that Cadbury should be able to maintain revenue growth, with a progressive increase in operating margins and cash flows leading to stronger debt protection metrics over the next two years.
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