S&P puts Coca-Cola European on watch

S&P said it placed its BBB+ rating for Coca-Cola European Partners plc on CreditWatch with negative implications.

The placement follows the company’s non-binding offer to acquire Coca-Cola Amatil Ltd.

“The CreditWatch placement indicates that in our view, the potential acquisition could weaken CCEP’s credit metrics, while headroom under the existing rating is limited,” S&P said in a press release.

The agency said it aims to resolve the CreditWatch placement once it can evaluate the final effect on credit metrics and the potential to reduce leverage after the transaction has closed.

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