Fitch Withdraws Beam's Ratings

CHICAGO--()--Fitch Ratings has withdrawn the long-term ratings for Beam, Inc. (Beam) due to insufficient information being available to make a final rating determination following the close of Suntory Holdings Limited's (Suntory) acquisition of Beam. On April 30, 2014, Suntory and Beam announced that Suntory completed the acquisition of all outstanding shares of Beam.

Fitch has also withdrawn Beam's short-term IDR and commercial paper (CP) ratings since Beam has terminated its CP program.

On Jan. 14, 2014, Fitch downgraded and placed Beam's ratings on Rating Watch Negative following the announcement that Beam would be acquired by Suntory.

Fitch has withdrawn the following ratings:

Beam

--Issuer Default Rating (IDR) at 'BBB-';

--Bank credit facility at 'BBB-';

--Senior unsecured notes and debentures at 'BBB-';

--Short-term IDR at 'F3';

--CP at 'F3'.

Fitch has withdrawn the ratings as Beam has chosen to stop participating in the rating process. Therefore, Fitch does not have sufficient information to resolve the Rating Watch and make a determination on the final ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for Beam.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology' (Aug. 5, 2013).

Applicable Criteria and Related Research:

Corporate Rating Methodology: Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715139

Additional Disclosure

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst:
William Densmore, +1-312-368-3125
Senior Director
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst:
Wesley E. Moultrie II, CPA, +1-312-368-3186
Managing Director
or
Committee Chairperson:
Michael Weaver, +1-312-368-3156
Managing Director
or
Media Relations:
Brian Bertsch, New York, +1 212-908-0549
brian.bertsch@fitchratings.com

Sharing

Contacts

Fitch Ratings
Primary Analyst:
William Densmore, +1-312-368-3125
Senior Director
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst:
Wesley E. Moultrie II, CPA, +1-312-368-3186
Managing Director
or
Committee Chairperson:
Michael Weaver, +1-312-368-3156
Managing Director
or
Media Relations:
Brian Bertsch, New York, +1 212-908-0549
brian.bertsch@fitchratings.com