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Published on 4/27/2018 in the Prospect News Emerging Markets Daily.

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.”


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