Fitch affirms Embotelladora Andina

Fitch Ratings said it affirmed the long-term foreign- and local-currency issuer default ratings of Embotelladora Andina SA and its international senior unsecured notes at BBB+.

In addition, Fitch affirmed the company's national scale ratings at AA(cl).

The outlook is stable.

“The rating affirmation reflects Andina's resilient operating performance and low leverage despite the challenging macroeconomic environment in some countries where it operates, notably Brazil and Argentina,” the agency said in a news release.

“The affirmation also factors in Andina's solid business profile thanks to its strong Coca-Cola brand as well as the relatively stable consumer dynamics of the beverage industry.”

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