Fitch rates Coca-Cola Femsa debt A(exp)

Fitch Ratings said it assigned an A(exp) rating to Coca-Cola Femsa SAB de CV's proposed multi-tranche issuance of up to $2 billion between five and 30 years.

The proceeds from the issuance are expected to be used to refinance current debt and general corporate purposes.

Fitch said Coca-Cola Femsa's ratings continue to reflect the company's substantial free cash flow generation, solid financial position, ample financial flexibility and strong business profile.

The ratings also reflect the company's strategic relationship with Coca-Cola Co. (A+/stable) and the explicit and implicit financial support Coca-Cola Femsa has received from Coca-Cola. In addition, the ratings consider the geographical diversification of the EBITDA generated outside of Mexico, as well as its strong credit profile, the agency said.

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