The investment bank ABN Amro today cut its rating on the world's second largest brewer SABMiller from "hold" to "reduce". However, the bank said it would not reveal the reasons for the change in rating until it had briefed clients, Just-drinks.com reported.

“The downgrade comes after Miller, a subsidiary of SAB, on Thursday said it would close its Tumwater, Washington brewery in order to cut costs.”

14 January, 2003