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Bunzl (BNZLLN; NR/BBB+) S&P moves to A2 on CPs

CONSUMER CYCLICALS
  • The distribution and services co is apparently launching a €1b commercial paper program which S&P has assigned a A2 short-term rating to. It's left long-term issuer rating alongside the £25 and £30 unch at BBB+.
  • Co looks like it has been on a string of bolt-on acquisitions this year, 1H results are a month away (27th Aug).

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