Sao Paulo, December 11, 2015 -- Moody's América Latina has today placed the A3/Aaa.br ratings of the BRL 1.0 billion senior debentures due 2021 issued by Ambev S.A. on review for downgrade. The rating action follows Moody's rating action on December 9, 2015 that placed Brazil's Baa3 issuer and bond ratings on review for downgrade.

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