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Asahi Group Holdings, Ltd. -- Moody's places Asahi Group Holdings' Baa1 ratings under review for downgrade

Moody's Japan K.K. has placed Asahi Group Holdings, Ltd.'s Baa1 issuer and senior unsecured ratings on review for downgrade. The rating action follows Asahi's announcement on 19 July 2019 that it had entered into a share purchase agreement with Anheuser-Busch InBev SA/NV (ABI, Baa1 stable) to acquire a 100% equity stake in ABI's Australian subsidiary CUB Pty Ltd, for a consideration of AUD16 billion (about JPY1.2 trillion) in cash. "This large, mostly debt-financed acquisition will significantly raise Asahi's financial leverage," says Moody's Vice President and Senior Credit Officer Motoki Yanase.