S&P ups Coca-Cola Femsa outlook to stable

S&P said it affirmed its A- global scale and mxAAA national scale corporate credit ratings on Coca-Cola Femsa SAB de CV.

S&P also affirmed its A- and mxAAA issue-level ratings on the company’s debt. The outlooks on the global scale and national scale ratings are both stable.

“During 2017, Coca-Cola Femsa successfully integrated, to a large extent, the recent acquisition of Brazil-based Coca-Cola bottler Vonpar, and was able to improve leverage metrics to a level commensurate with its current financial risk profile,” S&P said in a news release.

“By year-end 2017, the company met its target of reducing its debt to EBITDA ratio below 2.0x, and under our base-case scenario we expect the company's leverage ratio to remain within the 1.5x-2.0x range.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.