S&P affirms Coca-Cola Femsa

Standard & Poor's said it affirmed its BBB corporate credit rating on Mexico-based Coca-Cola Femsa SA de CV.

The outlook remains stable.

S&P said the ratings for Coca-Cola Femsa reflect the company's solid business position as evidenced by strong soft-drink market presence in its franchise territories in several countries throughout Latin America, its relative cash flow diversification, Coca-Cola Co.'s equity participation, and the company's strategic importance to the Coke system.

These factors are partially offset by a highly competitive environment, Coca-Cola Femsa's intermediate financial risk profile, and country risk exposure related to its operations in Mexico and other countries in Latin America, the agency said.

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