FOR GENERAL RELEASE TO THE PUBLIC July 7, 2017
Notification of Fitch Rating Decision
Fitch Ratings has upgraded Coca-Cola Icecek A.S.'s (CCI) Long Term Foreign Currency (FC) Issuer Default Rating (IDR) and senior unsecured rating to 'BBB' from 'BBB-'. The Long- Term Local Currency (LC) IDR is affirmed at 'BBB'. The IDR Outlooks are Stable.
The Long-Term FC and LC IDRs have been taken up one notch to reflect the operational and strategic relationship with The Coca-Cola Company (TCCC) and Fitch's view of diminished transfer and convertibility risks. The implied support by TCCC is reflected by Fitch in its LC IDR which has been rated 'BBB' with Stable Outlook since 2009. Becoming the highest rated Corporate by Fitch in Turkey, CCI's 'BBB' rating is now two-notches above the sovereign rating and one-notch above the Country Ceiling.
CCI is the fifth-largest bottler in the Coca-Cola System in terms of sales volume. CCI produces, distributes and sells sparkling and still beverages of The Coca-Cola Company (TCCC) across Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq, Syria and Tajikistan.
CCI employs close to 10,000 people and has a total of 25 plants, offering a wide range of beverages to a consumer base of 380 million people. In addition to sparkling beverages, the product portfolio includes juices, waters, sports and energy drinks, teas and iced teas.
CCI's shares are traded on Borsa Istanbul (BIST) under "CCOLA.IS", American depositary receipts (ADR) are traded over the counter in the United States under "COLAY", Eurobond is traded on Irish Stock Exchange under "CCOLAT" tickers.
Michael Coombs Chief Financial Officer
Tel: +90 216 528 4410
Deniz Can Yücel Investor Relations Manager Tel: +90 216 528 3386
Coca-Cola Icecek Investor Relations I Tel: +90 216 528 3392 I Fax: +90 216 510 7008 I CCI-IR@cci.com.tr I www.cci.com.tr
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Coca-Cola Içecek AS published this content on 07 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 07 July 2017 06:45:04 UTC.