Standard & Poor's assigns A+ senior unsecured debt rating to Coca-Cola's proposed senior unsecured notes expected to total US$2.75B

Nevin Barich

NEW YORK , March 11, 2012 (press release) – Standard & Poor's Ratings Services today assigned its 'A+' senior unsecured debt rating to Atlanta, Ga.-based The Coca-Cola Co.'s (Coke; A+/Positive/A-1) proposed senior unsecured notes expected to total about $3 billion, composed of a two-year, three-year, and a six-year tranche (actual amounts and maturity dates to be finalized at the close of the transaction). The
notes will be issued under the company's Rule 415 shelf registration.

The company intends to use the net proceeds from this offering for general corporate purposes, including the repayment of commercial paper or other outstanding indebtedness.

The corporate credit rating on Coke continues to reflect our assessment of the company's business risk profile as "excellent" (as defined in our criteria), reflecting its position as the world's largest nonalcoholic beverage company, as well as its geographic diversification, which we believe will continue to translate into strong profitability and cash flow, and our assessment of
Coke's "modest" financial risk profile that incorporates a degree of implied support from Coke to some of its bottlers, and strong liquidity.

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