Moody's rates Pepsi bonds Aa3

Moody's Investors Service said it assigned Aa3 ratings to PepsiCo's bond deal with $500 million three-year and $750 million 10-year tranches.

The outlook is stable.

Pepsi's Aa3 long-term rating reflects its strong brand franchises in snack foods and beverages, global reach, solid innovation pipelines, efficient operations, and extensive and multifaceted distribution network, as well as its good liquidity and continued solid financial performance, the agency said.

These factors are offset by higher leverage after the bottler and Wimm-Bill-Dann acquisitions, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.