S&P affirms Embotelladora Andina

Standard & Poor’s said it affirmed its BBB corporate credit and debt ratings on Embotelladora Andina SA.

The outlook on the corporate credit rating remains stable.

S&P said the ratings affirmation reflects Andina’s stable operating and financial performance after the acquisition of Companhia de Bebidas Ipiranga in 2013 despite the challenging economic environment in the countries where the company operates, which has depressed consumption.

However, Andina has maintained relatively stable sales volumes, focusing on price management and packaging strategy, while improving its distribution and logistics costs, the agency said.

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