|Bid||3,350.00 x 0|
|Ask||0.00 x 0|
|Day's Range||3,337.00 - 3,431.00|
|52 Week Range||2,505.00 - 3,486.00|
|Beta (5Y Monthly)||0.51|
|PE Ratio (TTM)||45.38|
|Earnings Date||Jul 21, 2020|
|Forward Dividend & Yield||62.00 (1.86%)|
|Ex-Dividend Date||Mar 27, 2020|
|1y Target Est||2,253.37|
Moody's Investors Service, ("Moody's") today affirmed the Baa1 issuer rating of Givaudan SA (Givaudan) and revised the outlook to negative from stable. The outlook revision to negative from stable reflects Moody's expectation that the string of bolt-on acquisitions announced by Givaudan since taking over Naturex in September 2018 will leave its leverage metrics weakly positioned in the next 12-18 months and delay the deleveraging required to underpin its rating at the Baa1 level.
Moody's Investors Service, ("Moody's") has assigned a B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating (PDR) to Innophos Holdings, Inc. ("Innophos"). Moody's has also assigned a B1 rating to the proposed $415 million senior secured first lien term loan and a Caa1 rating to the proposed $300 million senior unsecured notes.
Moody's Investors Service, ("Moody's") affirmed the Baa3 ratings of International Flavors and Fragrances, Inc. ("IFF") and its Prime-3 rating for commercial paper. The outlook revision follows the announcement that IFF has signed a definitive agreement to merge with the DuPont De Nemours, Inc.'s ("DuPont") Nutrition and Biosciences business for approximately $26.2 billion in cash and equity. "The negative outlook reflects the significant size of the transaction, the remaining integration risk from the Frutarom transaction and the lack of a consistent growth record at DuPont's Nutrition and Biosciences ("N&B") business, as well as credit metrics that are not reflective of the Baa3 rating" said Domenick R. Fumai, Moody's Vice President and lead analyst for IFF.
Swiss flavour and fragrance maker Givaudan <GIVN.S> said it was buying U.S. Ungerer & Company for an undisclosed sum as part of its long-term growth strategy. Givaudan said Ungerer, which employs 650 people, would have added roughly $250 million in extra sales on the basis of last year's results. Givaudan posted sales of 5.53 billion Swiss francs ($5.55 billion) in 2018.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Givaudan SA and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.