Fitch affirms Coca-Cola Femsa

Fitch Ratings said it affirmed Coca-Cola Femsa SA de CV's foreign currency and local currency issuer default ratings at A- and its national-scale ratings at AAA(mex).

These rating actions follow the announcement by Coca-Cola Femsa that it and The Coca-Cola Co. have reached an agreement to jointly acquire Jugos del Valle SA de CV, the agency said.

Fitch noted that the transaction is valued at $470 million, consisting of $380 million in equity value and $90 million of Jugos' net debt.

The agency said that during the first nine months of 2006, Coca-Cola Femsa has lowered its net debt by $200 million.

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