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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Anheuser-Busch InBev    ABI   BE0974293251

ANHEUSER-BUSCH INBEV

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Anheuser Busch InBev : Corporate Debt Cuts Fuel Surge in Leverage-Worry Bonds

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08/19/2019 | 05:39am EDT

By WSJ City

Corporate America has had an unusual priority in recent months: debt reduction. That's been much appreciated by Wall Street, where assessing the economic fundamentals of a handful of giant, heavily indebted companies has consumed investors and analysts for months.

KEY FACTS

--- Corporate leverage remains a topic of concern for several triple-B rated borrowers.

--- Those are firms whose credit ratings are the lowest rung of investment-grade.

--- Such firms, though, are raising cash, and looking to reduce debt and risk.

--- AT&T has reduced its net debt by roughly $9bn since the start of the year.

--- AB InBev has cut its dividend and sold its Australian unit as part of a bid to reduce its $100bn debt load.

Why This Matters

Newfound restraint among these firms has prompted surprising market moves. BBB-rated corporate debt has outpaced other grades. That's despite fears that a wave of mergers and buybacks had made debt vulnerable to downgrades.

Both safer than speculative-grade debt and higher-yielding than other investment-grade bonds, triple-Bs have been a sweet spot for investors facing slowing economic growth and a sharp decline in US Treasury yields. But some investors worry ballooning BBB debt could spell trouble in a downturn. If that credit is downgraded to speculative-grade status, firms' borrowing costs could rise, causing further economic disruption.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

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Financials (USD)
Sales 2019 55 260 M
EBIT 2019 18 441 M
Net income 2019 11 051 M
Debt 2019 96 233 M
Yield 2019 2,03%
P/E ratio 2019 18,0x
P/E ratio 2020 19,9x
EV / Sales2019 5,18x
EV / Sales2020 4,84x
Capitalization 190 B
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Technical analysis trends ANHEUSER-BUSCH INBEV
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 104,36  $
Last Close Price 97,03  $
Spread / Highest target 25,4%
Spread / Average Target 7,55%
Spread / Lowest Target -37,4%
EPS Revisions
Managers
NameTitle
Carlos Alves de Brito Chief Executive Officer
Olivier Goudet Chairman
Luis Felipe Pedreira Dutra Leite Chief Financial & Solutions Officer
Martin J. Barrington Non-Executive Director
William F. Gifford Non-Executive Director
Sector and Competitors
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