New York, June 28, 2016 -- Moody's Investors Service today downgraded the senior unsecured long-term ratings for Molson Coors Brewing Company and its rated subsidiaries to Baa3 from Baa2. Moody's also downgraded the short-term ratings for the company's commercial paper to Prime-3 from Prime-2. These actions conclude Moody's review for downgrade that began on November 11, 2015, when Molson Coors reached an agreement to acquire from SABMiller the 58% of the MillerCoors Joint Venture that it does not already own for approximately $12 billion. Moody's also assigned Baa3 ratings to Molson Coors' and subsidiaries for the proposed new senior unsecured bonds which will be used to partially fund the deal. The transaction is subject to a successful closing of a deal between Anheuser-Busch InBev and SABMiller. Ratings would be revisited should the deal unwind. The rating outlook is stable.

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