Coca Cola FEMSA B de C : Standard & Poor’s changed Coca-Cola FEMSA’s credit rating, following Mexico’s sovereign rating downgrade
March 31, 2020 at 11:06 am EDT
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Mexico City, Mexico - March 30, 2020 - Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOF UBL; NYSE: KOF) ('Coca-Cola FEMSA' or the 'Company') announces that as a result of Standard and Poor's ('S&P') actions on the sovereign ratings of Mexico, S&P has lowered the global scale credit rating on Coca-Cola FEMSA from A- to BBB+ with a negative outlook.
S&P's methodology limits the Company's credit rating to be one-notch above the sovereign foreign currency rating, therefore this change is not related to the Company's financial position. As such, S&P's 'A-' stand-alone credit profile for KOF remains unchanged because, in S&P's view, the company is well positioned to absorb negative shocks related to the pandemic caused by the Covid-19 outbreak. S&P highlighted the Company's safe and sound finances, strong business position, manageable leverage, robust cash position and geographic diversification. Finally, the negative outlook reflects a potential one-notch downgrade in case of a potential downgrade to Mexico's sovereign rating.
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Coca-Cola FEMSA SAB de CV published this content on 31 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2020 15:05:05 UTC
Coca-Cola FEMSA, S.A.B. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities. The Company's segments include Mexico and Central America division, which comprises Mexico (including corporate operations), Guatemala, Nicaragua, Costa Rica and Panama; the South America division, which consists of Brazil, Argentina and Colombia; Venezuela, which operates in an economy with exchange control and hyper-inflation, and the Asian division, which consists of the Company's equity method investment in Coca-Cola FEMSA Philippines, Inc. The Coca-Cola trademark beverages include sparkling beverages (colas and flavored sparkling beverages), waters and still beverages (including juice drinks, coffee, teas, milk, dairy and isotonic drinks).
COCA-COLA FEMSA, S.A.B. DE C.V. 
