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Debt Investor

Financial Policy

 Centralised funding and risk management at the level of Carlsberg Breweries A/S

  • Diversified sources of funding and smooth maturity profile
  • Risk perception is to actively manage exposures
  • Ample capital resources available at all times
  • Committed to retaining investment grade credit rating

Debt Facilities

Debt Funding Sources

Carlsberg Group’s main funding sources are committed bank facilities, Euro commercial papers and bond financing. The issues are either made under stand alone documentation or issued as part of a programme.

The Main Committed Bank Facility of the Group

Carlsberg Breweries A/S:  
  • EUR 2,000m committed revolving credit facility, due June 2024.
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Ratings

Ratings by Fitch

 

Rating

Outlook

Date

LT issuer rating (IDR)* BBB+ Stable 29-06-2018
ST issuer rating (IDR)* F1 Stable 22-05-2019
LT issuer rating (IDR) BBB- Stable 23-01-2006

* current rating

Ratings by Moody's

 

Rating

Outlook

Date

ST issuer rating* P2 Stable 28-03-2019
LT issuer rating* Baa2 Stable 23-02-2011
LT issuer rating Baa3 Stable 23-01-2006

* current rating

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Maturity Profile

Committed credit facilities as at 31 December 2018