Fitch affirms Andina

Fitch Ratings said it affirmed Embotelladora Andina SA's foreign- and local-currency issuer default ratings at A, senior unsecured Yankee bonds due in 2027 at A, senior unsecured UF-denominated bonds at AA+(cl), national scale rating at AA+ (cl) and national equity rating at Primera Clase Nivel 2 (cl).

The outlook is stable.

The agency said Andina's ratings reflect its low business risk profile and leading market position in its franchise territories and are further supported by its solid financial profile due to its strong cash flow from operations and its conservative capital structure.

The ratings also incorporate risks related to its Argentine operations.

The total debt-to-last 12 months EBITDA is 0.5 times.

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