Moody’s concerns about Russia could weigh on Carlsberg’s profitability
Carlsberg could come under significant pressure as declining Russian demand, ongoing rouble weakness and the Russian fragile macroeconomic environment weigh on its profitability in 2015, according to a new report from Moody’s Investors Service.
“Carlsberg’s debt to Ebitda ratio could exceed the 3.0x threshold for a Baa2 rating, unless it controls costs and cash consumption and takes measures to reduce debt in 2015.”
Paolo Leschiutta, a Moody’s vice-president, senior credit officer and author of the report
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