Fitch applies A- to Andina notes

Fitch Ratings said it assigned a rating of A- to the $575 million notes issued by Embotelladora Andina SA due in 2023.

Proceeds from the issuance will primarily be used to finance Andina's acquisition of the Brazilian bottler, Companhia de Bebidas Ipiranga.

The outlook is stable.

Fitch said Andina's credit ratings are supported by its position as one of the largest Coca-Cola bottlers in the world. The company is the leading producer of soft drinks in Chile and the second largest producer in Brazil and Argentina, and also has a strong presence in Paraguay.

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