Nestle S.A.: Rating Report

On 19 December 2023, DBRS Ratings GmbH (Morningstar DBRS) confirmed Nestlé S.A.’s (Nestlé or the Company) Issuer Rating at AA (low) and Nestlé Capital Canada Ltd.’s (Nestlé Capital) commercial paper credit rating at R-1 (middle), both with Stable trends. Morningstar DBRS also assigned an Issuer Rating of AA (low) with a Stable trend to Nestlé Finance International LTD (Nestlé FI).