Moody's rates Coca-Cola bonds Aa3

Moody's Investors Service said it assigned an Aa3 rating to Coca-Cola Co.'s proposed floating-rate notes due 2015. The outlook is stable.

Proceeds will be used to repay commercial paper.

The agency said Coca-Cola's Aa3 rating and stable outlook 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, a highly diverse global operation network, a growing non-carbonated portfolio and unrivaled distribution.

These strong qualitative factors are tempered by the need for additional investments for its owned bottling operations, declining carbonated beverage consumption in certain markets and the challenges of a global macroeconomic environment, which includes slower growth in some emerging markets, Moody's said.

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