Brandbrew S.A. -- Moody's places ABI's A3/ Prime-2 ratings on review for upgrade

New York, January 20, 2014 -- Moody's Investors Service placed the long and short-term ratings of Anheuser-Busch InBev SA/NV (ABI) and guaranteed subsidiaries (A3/ Prime-2) on review for possible upgrade, six months into the integration of Mexican brewer Grupo Modelo, S.A.B. de C.V. (Modelo) and following today's announcement that it has reached agreement to purchase Oriental Brewing in South Korea for approximately $5.8 billion. The actual purchase price will be reduced by cash at Oriental Brewing and an approximate $320 million earn-out payable to ABI resulting from the original 2009 sale of Oriental Brewing to KKR. ABI has more than enough liquidity to fund the transaction considering that it had nearly $7 billion in cash and short term investments as of June, 2013 and around $4.5 billion available under its $8 billion in credit facilities, not counting the additional cash flow since June.

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