Fitch rates International CCE BBB+

Fitch Ratings said it assigned a long-term issuer default rating of BBB+ to International CCE Inc. and its subsidiaries Coca-Cola Enterprises Finance LT1 Commandite SCA and Coca-Cola Enterprises (Canada) Bottling Finance Co.

Upon the transaction's close, the Coca-Cola Co. will be wholly owned subsidiaries of International CCE.

Fitch also said it assigned a short-term issuer default rating of F2 to International CCE while affirming the guaranteed senior unsecured notes of Coca-Cola Enterprises Finance LT1 and Coca-Cola Enterprises (Canada) at A+.

The outlook is stable.

According to the agency, Fitch said that International CCE's ratings reflect the company's free cash flow generation enabled by sustainable operating margins, its commitment to an investment grade rating, its stated leverage target of net debt-to-EBITDA of 2.5 times to 3.0x, and the expectation that the company will meet and maintain its target.

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