Moody's assigns Bottling Group notes A2

Moody's Investors Service said it assigned an A2 rating to Bottling Group LLC's $1.3 billion senior notes due October 2013.

The outlook is stable.

The notes, which will be issued by Bottling Group, LLC, the principal operating subsidiary of Pepsi Bottling Group, Inc., will rank pari passu with the senior unsecured debt of Pepsi, which is guaranteed by Bottling Group LLC, the agency said.

Subject to conditions in the indenture, PepsiCo Inc. will provide a full and unconditional guarantee of the notes in February 2009, the agency noted, adding that the A2 rating on the notes does not reflect the future guarantee.

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