Fitch: Coca-Cola Icecek notes BBB

Fitch Ratings said it assigned Coca-Cola Icecek's planned senior notes issue an expected senior unsecured rating of BBB(EXP).

Proceeds will be used to refinance the company's 4¾% notes due in 2018.

“The planned notes will be unguaranteed, ranking equally with all existing and future unsecured indebtedness of the issuer that is not subordinated to the notes, including that under senior credit facilities. The contemplated transaction is leverage neutral and is part of the group's liability management,” Fitch said in a news release.

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