Fitch Ratings affirms Australia-based Coca-Cola Amatil's Long-Term Issuer Default Rating and senior unsecured rating at 'BBB+', Short-Term IDR at 'F2'; company given stable outlook
November 8, 2011
– Fitch Ratings has affirmed Australia-based Coca-Cola Amatil Limited's (CCA) Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB+', and Short-Term IDR at 'F2', giving the company a stable outlook, Reuters reported Nov. 6.
Fitch said that CCA’s ratings are supported by its strong and stable trading cash flows derived from a mature Australian and a strong portfolio of brands. The ratings also incorporate implied support from The Coca-Cola Company, CCA's major shareholder.
Vicky Melbourne, head of Industrials for southeast Asia and Australasia at Fitch Ratings, said CCA’s strong cash flows are due to the company's leading competitive position in the Australian non-alcoholic beverage sector and its well-positioned brand portfolio.
The primary source of this article is Reuters, London, England, on Nov. 6, 2011.