Moody's: Coca-Cola notes Aa3

Moody's Investors Service said it assigned an Aa3 rating to the two-, five- and 10-year notes totaling $2.5 billion issued by the Coca-Cola Co.

All other ratings for the company and its rated affiliates remain unchanged.

The outlook is stable.

The company has senior unsecured domestic currency ratings of Aa3, senior unsecured shelf domestic currency ratings of provisional Aa3, commercial-paper domestic-currency ratings of prime-1.

The ratings reflect the system's leading position in the global carbonated soft drink industry, including its ownership of one of the most valuable consumer brands in the world, highly diverse global operation network and growing non-carbonated portfolio and unrivaled distribution, Moody's said.

These strong qualitative factors are tempered by the need for additional investments to turn around the acquired bottlers, high commodity prices and the challenges of a global macroeconomic environment, the agency said.

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