Fitch affirms Coca-Cola Icecek

Fitch Ratings said it affirmed Coca-Cola Icecek AS's long-term local-currency issuer default rating at BBB, long-term foreign-currency issuer default rating at BBB-, senior unsecured rating at BBB-.

The outlook is revised to stable from negative.

The company's long-term foreign-currency issuer default rating of BBB- is constrained by Turkey's country ceiling of BBB-.

Fitch said the ratings reflect the company's strong presence within its markets and the operational support and oversight provided by the Coca-Cola Co, which is rated A+ with stable view.

These factors are balanced against recently weak operating results, significant foreign-exchange exposure and its ongoing expansion outside Turkey, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.