In a time when the beverage industry is seeing dynamic shifts, one brewing giant, Molson Coors Beverage Company (NYSE: TAP), has seized the opportunity to fortify its position in the market.
Recently, Molson Coors Beverage unveiled its plans to buy back shares worth $2 billion over the forthcoming five years, a move signaling an accelerated buyback pace, especially when juxtaposed against the $51.5 million it repurchased in 2022, reported the Wall Street Journal.
Amidst these strategic moves, the company witnessed an uplifting nod from S&P Global Ratings. The credit rating agency elevated its rating by a notch, recognizing Molson Coors' efforts in trimming its debt while ensuring the intended share repurchases remain unaffected.
The report noted that Molson Coors' financial health displays an encouraging trend. ...