Central European Distribution Corporation Announces Rating Upgrade from Standard & Poor's
CEDC is the largest vodka producer in Poland and produces the Absolwent, Zubrowka, Bols and Soplica brands, among others. CEDC currently exports Zubrowka to many markets around the world.
13/09/07 Central European Distribution Corporation announced that Standard & Poor's Rating Services has raised its long term corporate credit rating to B+ from B with a stable outlook. Standard & Poor's stated that the upgrade "reflects the improved profitability of CEDC's operations and the consolidation of the company's position as a distributor in its domestic market". In May 2007 the Company received a similar upgrade from Moody's, which upgraded the Company's corporate family rating to B1 from B2.
Mr. William Carey, CEO and President, commented, "We are pleased to see that both major rating agencies have recognized our efforts in strengthening the profitability and cash flow generation of our business."
CEDC is the largest vodka producer in Poland and produces the Absolwent, Zubrowka, Bols and Soplica brands, among others. CEDC currently exports Zubrowka to many markets around the world. CEDC also produces and distributes Royal Vodka, the number one selling vodka in Hungary.
