Molson Coors (TAP -5.4%) fell sharply following its $3.5B deal to acquire StarBev, and the cool...

|About: Molson Coors Brewing Company (TAP)|By:, SA News Editor

Molson Coors (TAP -5.4%) fell sharply following its $3.5B deal to acquire StarBev, and the cool reaction from ratings agencies likely played a role. Moody's lowered its rating on Molson, which has $2.3B in debt, to Baa2 (a notch below investment-grade), noting beer consumption in StarBev's markets is often volatile during recessions. Fitch argues the deal isn't enough to allow Molson to challenge BUD and other Euro market leaders. (also)