London, 20 January 2026, 09:09 GMT — Regular session.
- Diageo shares dipped in early London trading following a new move by Fitch on the company’s credit rating.
- A board disclosure revealed that Diageo non-executive John Rishton is set to become chair at Imperial Brands later this year.
- Traders are keeping an eye on a Kenya court schedule linked to Diageo’s planned sale of its EABL stake, as interim results approach next month.
Diageo shares (DGE.L) slipped roughly 0.4% in early Tuesday trading, valuing the maker of Guinness and Johnnie Walker at 1,618.5 pence. (Investing)
The shift puts the spotlight on balance sheet and policy risks just as investors show little tolerance for surprises from global consumer firms. Credit news and tariff chatter are increasingly shaping the tape, rivaling traditional brand narratives.
Diageo slipped 1.84% on Monday, ending the day at £16.25 and trailing the wider FTSE 100 decline. According to MarketWatch, the shares remain roughly 37% off their 52-week peak. (MarketWatch)
On Monday, Fitch Ratings affirmed Diageo’s rating at ‘A-’ but assigned a negative outlook and withdrew some of its ratings for commercial reasons. The issuer default rating reflects a borrower’s capacity to repay debt, while the negative outlook suggests a potential downgrade. (Fitch Ratings)
Separately, Diageo announced that non-executive director John Rishton will take on the role of chair designate at Imperial Brands starting July 13, 2026, before stepping up as chair on Dec. 1. (Investegate)
Imperial Brands announced the appointment came after a planned succession, with senior independent director Sue Clark praising Rishton as “an exceptional candidate as Chair.” Rishton added he “look forward to working with the Board.” (Investegate)
The broader market drag remains in play. Spirits companies with significant U.S. sales took a hit Monday following President Donald Trump’s warning about potential new import tariffs targeting EU and UK goods. Diageo, Pernod Ricard, Rémy Cointreau, and Campari all saw their shares slip. (Investing)
Investors are keeping an eye on the legal timeline. Reuters reported earlier this month that Kenya’s High Court has pushed a hearing on the case trying to block Diageo’s $2.3 billion sale of its EABL stake to Japan’s Asahi to Jan. 20. The court is expected to issue further directions then. EABL responded, “We welcome the court’s decision to allow the regulatory phases of this transaction to continue.” (Reuters)
That said, the situation can flip. A stricter court ruling in Kenya, tariffs shifting from talk to actual levies, or any hint that debt cuts falter could weigh on the shares—despite Tuesday’s modest move.
Diageo is set to release its interim results for the six months ending Dec. 31 on Feb. 25, per the company’s financial calendar. This report will probably influence the stock’s trajectory through March. (Diageo)
