S&P lifts Coca-Cola

Standard & Poor's said it raised the Coca-Cola Co.'s long-term corporate credit and senior unsecured debt ratings to AA- from A+, as well as its short-term corporate credit and commercial-paper ratings to A-1+ from A-1.

The outlook is stable.

The upgrade reflects Coke's continued strong global operating performance and financial profile amid weak global economic conditions and following its sizable acquisition of Coca-Cola Enterprises Inc.'s North American bottling operations in 2010, S&P said.

The ratings consider the company's excellent business risk profile and modest financial risk profile, the agency said.

Key credit factors include its very strong position as the world's largest nonalcoholic beverage company, anchored by well-known brands, as well as its geographic diversification, S&P said.

The modest financial risk profile incorporates Coke's conservative financial policies and strong liquidity, the agency added.

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