S&P gives Embotelladora notes BBB

Standard & Poor's said it assigned its BBB corporate credit rating to Embotelladora Andina, SA.

The agency also assigned its BBB issue-level rating to its proposed $600 million 10-year senior unsecured notes.

The outlook is stable.

S&P said the BBB ratings on Andina reflect its assessment of the company's 'satisfactory' business risk profile, 'intermediate' financial risk profile, 'adequate' liquidity and 'satisfactory' management and governance, as criteria define these terms.

The assessment of Andina's business risk profile as 'satisfactory' reflects its leading position in the franchised territories where it operates, an extensive product portfolio with strong brand recognition, its geographic and product diversification, efficient distribution system and relatively stable cash flow, characteristic of the nonalcoholic beverage industry, S&P said.

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