Moody's downgrades British American Tobacco's ratings to Baa2; stable outlook
London, 17 January 2017-- Moody's Investors Service today downgraded the long term ratings of British American Tobacco plc and its subsidiaries from A3 to Baa2. Today's action follows the announcement that BAT reached an agreement to acquire the outstanding 57.8% of the shares in Reynolds American Inc for approximately USD 25 billion in cash and USD 25 billion in BAT's shares for a total enterprise value of approximately USD 97 billion, including USD 13 billion net debt assumed.
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