Fitch assigns investment grade rating to JDE Peet’s
November 11 2020 - 1:08AM
Fitch assigns investment grade rating to JDE Peet’s
BBB-/Stable rating underscores operating strength, strong
financial discipline and continued progress Amsterdam, 11
November 2020
JDE Peet’s (EURONEXT: JDEP), the world's largest pure-play
coffee and tea group by revenue, today announced that Fitch Ratings
has assigned an investment grade rating (BBB-/Stable) to the
company. This rating reinforces the commitment the company made
since the IPO to become investment grade, and underscores its
operating strength, strong financial discipline, and continued
progress.
In its release, Fitch noted: “The ‘BBB-‘ rating reflects the
company’s strong market position in the global coffee industry, the
ability to protect its performance from the price movements of raw
coffee, as well as good scope for continued profit growth thanks to
a well thought-out strategy relying on a wide breadth of successful
technology, brands and products. This is reflected in a track
record of continued volume/mix growth, very strong profitability
and cash flow generation, which we view as sustainable.”
“We believe that JDE Peet’s has an investment grade profile, and
today’s announcement affirms it,” said Scott Gray, CFO of JDE
Peet’s. “Our strong financial discipline and conservative capital
allocation strategy are core focus areas for us and we are pleased
that our progress in these areas continues to be recognised.”
Moving forward, JDE Peet’s will continue to reduce its leverage
position in line with its commitment, while prioritising
investments to support the continued growth of the business.
Enquiries MediaMichael Orr
Global Communications DirectorMedia@JDEPeets.com Investors
& AnalystsRobin Jansen+31 6 1594
4569Robin.Jansen@JDEcoffee.com
About JDE Peet’sJDE Peet’s is the world's largest
pure-play coffee and tea group by revenue, serving approximately
130 billion cups of coffee and tea in 2019 in more than 100
developed and emerging countries. With a portfolio of more than 50
leading global, regional and local coffee and tea brands, JDE
Peet’s offers an extensive range of high-quality and innovative
coffee and tea products and solutions to serve consumer needs
across markets, consumer preferences and price levels. In 2019, JDE
Peet’s generated total sales of EUR 6.9 billion
and had on average 21,255 employees worldwide. JDE Peet’s’ global
brand portfolio includes Jacobs, Peet’s,
L’OR, Senseo, Tassimo and Ti Ora. For more
information, please visit www.JDEPeets.com.
- Fitch assigns investment grade rating to JDE Peet’s
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