Coca-Cola FEMSA, S.A. de C.V. http://www.alacrastore.com/company-snapshot/Coca_Cola_FEMSA_S_A_de_C_V-1070985 Saturday, July 26, 2008 1:29:02 PM 1070985 Coca-Cola FEMSA, S.A. de C.V. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/ccbn/T1902797ccbn/T1902797norm...Good morning, everyone. And welcome to Coca-Cola FEMSA's Second Quarter #### Earnings Results Conference Call. As a reminder, today's conference is being recorded and all participants are in a listen-only mode. At the request of the Company, we'll open the conference up for questions and answers after the presentation. During this conference call, management may discuss certain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which can materially impact the Company's actual performance. At this time, I will now turn the conference over to Mr. Hector Trevino, Coca-Cola FEMSA's CFO. Please go ahead, Mr. Trevino. ... 7/24/2008 6:09:06 AMCOCA-COLA FEMSA S A DE C V106.0000FinalQ2 2008 COCA-COLA FEMSA S A DE C V Earnings Conference Call TranscriptKOF11:00am ETTranscriptT1902797Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/spcred/659918spcred/659918normThe latest Full Report from S&Pglobal7/16/2008 1:04:00 PM400Full Report659918MexicoSoft DrinksEmerging MarketsLatin AmericaGlobal IssuersCorporationsConsumer ProductsFull ReportStrong soft drink market presence Coca-Cola Co.'s equity participation Strategic importance to the Coke system Improved financial profile Highly competitive markets Foreign currency exposure The ratings on Coca-Cola Femsa S.A.B. de C.V. (KOF) reflect the company's satisfactory business profile, The Coca-Cola Co.'s (KO; A+/Stable/A-1) implicit support through its 31.6% stake in KOF, and the strategic position that KOF holds in the Coke system in Latin America. In addition, the ratings incorporate the company's debt reduction after acquiring Panamerican Beverages Inc. in May 2003. The ratings also reflect Standard&Poor's Ratings Services' expectation that KOF will maintain its strong financial profile through robust cash flow generation in its core markets. These factors are offset partially by a highly competitive environment,MEX19124130201030 302010 3020 30Coca-Cola Femsa, S.A.B. de C.V.308332EMERGINGLATAMERICAKOFL@MMFULLUSAPANMEXP4182H19121A19121B69829V19121619121D19121F19121C19121E30201030 302010 3020 3030201010 302010 3020 3020201030 202010 2020 20Coca-Cola Co. (The)Panamerican Beverages, Inc.Panamco Mexico, S.A. de C.V.FEMSA Cerveza, S.A. de C.V.Fomento Economico Mexicano, S. A. B. de C. V.100511304925355868371086379681EMERGINGLATAMERICAUSAKOPB1459Z@MMFEMSAUB@MMGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/659919spcred/659919normThe latest Summary from S&Pglobal7/16/2008 1:04:00 PM175Summary659919MexicoSoft DrinksEmerging MarketsLatin AmericaGlobal IssuersCorporationsConsumer ProductsSummaryThe ratings on Coca-Cola Femsa S.A.B. de C.V. (KOF) reflect the company's satisfactory business profile, The Coca-Cola Co.'s (KO; A+/Stable/A-1) implicit support through its 31.6% stake in KOF, and the strategic position that KOF holds in the Coke system in Latin America. In addition, the ratings incorporate the company's debt reduction after acquiring Panamerican Beverages Inc. in May 2003. The ratings also reflect Standard&Poor's Ratings Services' expectation that KOF will maintain its strong financial profile through robust cash flow generation in its core markets. These factors are offset partially by a highly competitive environment, market volatility, and foreign currency exposure related to its dollar-denominated debt, which represented about 41% of total debt outstanding as of March 31, 2008.MEX19124130201030 302010 3020 30Coca-Cola Femsa, S.A.B. de C.V.308332EMERGINGLATAMERICAKOFL@MMSUMMARYUSA19121A19121B19121C19121E19121619121D19121F30201030 302010 3020 30Coca-Cola Co. (The)100511EMERGINGUSALATAMERICAKOGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/392212_report_framefitch/392212_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Coca-Cola FEMSA, S.A. de C.V.806410287/7/2008 6:30:00 PM01030100425Full Rating ReportKOF.A392212_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/422422_pr_framefitch/422422_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Coca-Cola FEMSA, S.A. de C.V.The Coca-Cola Company80542325806410286/2/2008 6:35:00 PM01030000010301000103010285Press ReleaseKOKOF.A422422_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/422429_pr_framefitch/422429_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Coca-Cola FEMSA, S.A. de C.V.806410286/2/2008 6:35:00 PM0103010085Press ReleaseKOF.A422429_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/moodys/PR_155004_807616556moodys/PR_155004_807616556htmlGlobal Credit Research Rating Action ## MAY #### Rating Action: FEMSA Cerveza, S.A. de C.V. Moody's assigns Aaa.mx to FEMSA's proposed certificados bursatiles Approximately MXN# billion (USD### million) of debt instruments affected...5/21/2008 4:26:29 PMhtmlFEMSA Cerveza, S.A. de C.V.Coca-Cola FEMSA, S.A.B. de C.V.Fomento Economico Mexicano, S.A.B. de C.V.Coca-Cola FEMSA, S.A.B. de C.V.; FEMSA Cerveza, S.A. de C.V.; ...807616556600020925298110150.0000NewsRating ActionPR_155004_807616556Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_155005_807616556moodys/PR_155005_807616556htmlGlobal Credit Research Rating Action ## MAY #### Rating Action: FEMSA Cerveza, S.A. de C.V. Moody's asigna calificacin de Aaa.mx a los certificados burstiles propuestos por FEMSA Aproximadamente $#,### millones de pesos ($### millones...5/21/2008 4:26:29 PMhtmlFEMSA Cerveza, S.A. de C.V.Coca-Cola FEMSA, S.A.B. de C.V.Fomento Economico Mexicano, S.A.B. de C.V.Coca-Cola FEMSA, S.A.B. de C.V.; FEMSA Cerveza, S.A. de C.V.; ...807616556600020925298110150.0000NewsRating ActionPR_155005_807616556Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1821353ccbn/T1821353norm...Good morning, everyone, and welcome to the Coca-Cola FEMSA's first quarter #### earnings results conference call. As a reminder, today's conference is being recorded and all participants are in a listen-only mode. At the request of the Company, we will open the conference up for questions and answers after the presentation. During this conference call, management may discuss certain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as good-faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties which can materially impact the Company's actual performance. At this time, I will now turn the conference over to Mr. Hector Trevino, Coca-Cola FEMSA's Chief Financial Officer. Please go ahead, Mr. Trevino. ... 4/25/2008 9:04:00 PMCOCA-COLA FEMSA S A DE C V54.0000FinalQ1 2008 COCA-COLA FEMSA S A DE C V Earnings Conference Call TranscriptKOF11:00am ETTranscriptT1821353Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/spcred/634570spcred/634570normThe latest News from S&P3/7/2008 6:34:58 PMNews100global634570MexicoSoft DrinksEmerging MarketsLatin AmericaGlobal IssuersCorporationsConsumer ProductsNewsMEXICO CITY (Standard&Poor's) March 7, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on the 'BBB+' long-term corporate credit rating on Mexico-based Coca-Cola Femsa S.A. de C.V. (KOF) to positive from stable. "The outlook revision reflects the improvement in KOF's financial profile and its strong business fundamentals. We believe that KOF's ability to continue leveraging on its brand equity and distribution network will support the company's performance in volatile short-term market conditions, and allow it to maintain a strong market share and further position its products in countries other than Mexico," said Standard&Poor's credit analyst Luis Manuel Martinez. The ratings on KOF reflect the company's strong business profile, The Coca-Cola Co.'s (KO;MEX19124130201030 302010 3020 30Coca-Cola Femsa, S.A.B. de C.V.308332EMERGINGLATAMERICAKOFL@MMNEWSUSA19121619121A19121B19121C19121D19121E19121F30201030 302010 3020 30Coca-Cola Co. (The)100511EMERGINGLATAMERICAUSAKOGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/634571spcred/634571normThe latest Research Update from S&P3/7/2008 6:34:58 PMResearch Update175global634571MexicoSoft DrinksEmerging MarketsLatin AmericaGlobal IssuersCorporationsConsumer ProductsResearch UpdateOn March 7, 2008, Standard&Poor's Ratings Services revised its outlook on the 'BBB+' long-term corporate credit rating on Mexico-based Coca-Cola Femsa S.A.B. de C.V. (KOF) to positive from stable. The outlook revision reflects the improvement in KOF's financial profile and its strong business fundamentals. We believe that KOF's ability to continue leveraging on its brand equity and distribution network will support the company's performance in volatile market conditions, and allow it to maintain a strong market share and further position its products in countries other than Mexico. The ratings on KOF reflect the company's satisfactory business profile, The Coca-Cola Co.'s (KO; A+/Stable/A-1) implicit support through its 31.6% stake in KOF, and the strategic position that KOF holds inMEX19124130201030 302010 3020 30Coca-Cola Femsa, S.A.B. de C.V.308332EMERGINGLATAMERICAKOFL@MMRESUPDUSA19121619121A19121B19121C19121D19121E19121F30201030 302010 3020 30Coca-Cola Co. (The)100511EMERGINGLATAMERICAUSAKOGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1763093ccbn/T1763093norm...Good morning, everyone, and welcome to Coca-Cola FEMSA's fourth quarter #### earnings results conference call. As a reminder, today's conference is being recorded and all participants are in a listen-only mode. At the request of the Company, we'll open the conference up for questions and answers after the presentation. During this conference call, management may discuss certain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as good-faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which can materially impact the Company's actual performance. At this time, I will now turn the call over to Mr. Hector Trevino, Coca-Cola FEMSA's CFO. Please go ahead, sir. ... 2/19/2008 7:24:00 PMCOCA-COLA FEMSA S A DE C V54.0000FinalQ4 2007 COCA-COLA FEMSA S A DE C V Earnings Conference Call TranscriptKOF10:30am ETTranscriptT1763093Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/spcred/626369spcred/626369normThe latest Summary from S&P1/17/2008 3:48:43 PMSummary175global626369MexicoSoft DrinksEmerging MarketsLatin AmericaGlobal IssuersCorporationsConsumer ProductsSummaryStandard&Poor's Ratings Services' ratings on Coca-Cola Femsa S.A.B. de C.V. (KOF) reflect the company's strong business fundamentals, The Coca-Cola Co.'s (KO; A+/Stable/A-1) implicit support through its 31.6% stake in KOF, and the strategic position that KOF holds in the Coke system in Latin America. In addition, the ratings incorporate the company's positive deleveraging four years after acquiring Panamerican Beverages Inc. The ratings also reflect our expectations that the company will continue to maintain its financial profile through robust cash-flow generation in its core markets and an adequately designed debt repayment program. These factors are partially offset by a highly competitive environment, market volatility, and foreign currency exposure related to its dollar-denominated debt, which represents about 48.4% of totalMEX19124130201030 302010 3020 30Coca-Cola Femsa, S.A.B. de C.V.308332EMERGINGLATAMERICAKOFL@MMSUMMARYUSA19121C19121D19121E19121F19121A19121619121B30201030 302010 3020 30Coca-Cola Co. (The)100511LATAMERICAEMERGINGUSAKOGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_600020925moodys/COP_600020925htmlGlobal Credit Research Credit Opinion # MAY #### Credit Opinion: Coca-Cola FEMSA, S.A.B. de C.V. Coca-Cola FEMSA, S.A.B. de C.V. Mexico City, Mexico Ratings Category Moody's Rating Outlook Stable Senior Unsecured -Dom Curr A# NSR Senior...1/3/2008 4:42:00 PMhtmlCoca-Cola FEMSA, S.A.B. de C.V.Coca-Cola FEMSA, S.A.B. de C.V.600020925150.0000NewsCredit OpinionCOP_600020925Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_63111_600018876moodys/PR_63111_600018876htmlRating Action12/21/2007 4:58:32 AMGlobal Credit Research Rating Action ## DEC #### Rating Action: Corp. Interamericana de Bebidas, SA. de CV MOODY'S CONFIRMS Baa# RATINGS OF COCA-COLA FEMSA S.A. de C.V. AND CHANGES OUTLOOK FROM POSITIVE TO STABLE; PLACES Baa# RATING...Corp. Interamericana de Bebidas, SA. de CV600018876150.00Newshtml600020925Coca-Cola FEMSA, S.A. de C.V.Coca-Cola FEMSA, S.A. de C.V.; Corp. Interamericana de Bebidas, SA. de CVPR_63111_600018876Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1667004ccbn/T1667004norm10/28/2007 11:04:00 PMCOCA-COLA FEMSA S A DE C V54.0000FinalQ3 2007 COCA-COLA FEMSA S A DE C V Earnings Conference Call TranscriptKOF2:00pm ET...Good afternoon, everyone, and welcome to Coca-Cola FEMSA's third quarter #### earnings results conference call. As a reminder, today's conference is being recorded, and all participants are in a listen-only mode. At the request of the Company, we will open the conference up for questions and answers after the presentation. During this conference call, management may discuss certain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as good, safe estimates made by the Company. These forward-looking statements reflect management expectations and are based upon current available data. Actual results are subject to future events and uncertainties, which can materially impact the Company's actual performance. At this time, I would now like to turn the conference over to Mr. Hector Trevino, Coca-Cola FEMSA's CFO. Please go ahead, Mr. Trevino.... TranscriptT1667004Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/T1599043ccbn/T1599043norm7/28/2007 2:06:00 AMCOCA-COLA FEMSA S A DE C V54.00FinalQ2 2007 COCA-COLA FEMSA S A DE C V Earnings Conference Call TranscriptKOF11:00am ET...Good morning, everyone, and welcome to Coca-Cola FEMSA's second quarter #### earnings results conference call. (OPERATOR INSTRUCTIONS) During the conference call, management may discuss certain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as a good-faith estimate made by the Company. These forward-looking statements reflect management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties which can materially affect the Company's actual performance. At this time, I would now like to turn the call over to Mr. Hector Trevino, Coca-Cola FEMSA's CFO. Please go ahead, Mr. Trevino. ... TranscriptT1599043Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/spcred/590833spcred/590833norm7/16/2007 8:12:53 PMThe latest Full Report from S&PFull ReportAPPROVES FRANCHISED BRANDS ACCEPTANCE REGAIN PRODUCES DYNAMICS BARRIER ADVERTISING COKE BOTTLING EFFICIENCIES TERRITORY ROBUST MODERATING CURRENCIES BOTTLER HIGHLY FOOTPRINT CARBONATED TRADEMARK RESIN COMPARISON POLYETHYLENE TEREPHTHALATE EBIT LATINCENTRO COMPETITOR PRODUCTION PENETRATION INDICATORS CONVERTIBILITY CENTERS PEPSI DELEVERAGING OFFSETS CULTURAL AWARENESS FANTA INTERNALLY KOF POINTS FUNDAMENTALS MAINTAINS COLLABORATIVE CHEAPER FEMSA SELLS RETIREMENT LIGHTER BOTTLES FFO BOTTLED 6.4X ADEQUATELY DRINKS RATIONALIZATION KEEPING STRENGTHEN PROPRIETARY BEVERAGES MERCOSUR NETTED COCA YOUNG NONCARBONATED 6.2X AFOREMENTIONED MANAGING PROMOTIONS EXCLUSIVE BOTTLERS VOTING ENABLE SOFT CORE FAILS RIGHTS MULTISEGMENTATION MEXICAN PESO MEANWHILE OPER COLOMBIA FACTORED PANAMCO DRINK ENHANCING PANAMERICAN ENTRY DOLLAR VETO COUPLE SUFFERS DECISIONS NETWORK AMATIL EXPECT EXPIRED DISTRIBUTES CREATES DIVISION EFFICIENCY BEER REACH CONSISTENT SPRITE RELATIONSHIPS CONSOLIDATING INCORPORATE COPE HELLENIC UPDATING MUC CLOSED LICENSED PARTICIPATES THIRDS SUPPORTED KEYStrong presence in soft-drink market Coca-Cola Co.'s equity participation Strategic importance to the Coke system Highly competitive environment Foreign currency exposure Standard&Poor's Ratings Services' ratings on Coca-Cola Femsa S.A.B. de C.V. (KOF) reflect the company's strong business fundamentals, The Coca-Cola Co.'s (KO; A+/Stable/A-1) implicit support through its 31.6% stake in KOF, and the strategic position that KOF holds in the Coke system in Latin America. In addition, the ratings incorporate the company's positive deleveraging four years after acquiring Panamerican Beverages Inc. The ratings also reflect our expectations that the company will continue to maintain its financial profile through robust cash flow generation in its core markets and an adequately designed debt repayment program. These factors are partially offsetCoca-Cola Femsa, S.A.B. de C.V.30201030 302010 3020 30MEXglobal180.00308332590833Credit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/590834spcred/590834norm7/16/2007 8:12:53 PMThe latest Summary from S&PSummaryFRANCHISED ENABLE REGAIN SOFT CORE FAILS MEXICAN COKE DRINK ENHANCING EFFICIENCIES PANAMERICAN DOLLAR ROBUST COUPLE SUFFERS NETWORK BOTTLER HIGHLY FOOTPRINT EXPECT EXPIRED PRODUCTION CONSISTENT RELATIONSHIPS INDICATORS INCORPORATE CONVERTIBILITY UPDATING DELEVERAGING INTERNALLY SUPPORTED KOF FUNDAMENTALS MAINTAINS COLLABORATIVE CONFIRM IMPLICIT FEMSA 6.4X ADEQUATELY KEEPING DECREASES STRENGTHEN CONTINUOUSLY BEVERAGES CONSTRAINS COCA COLA EBITDA NONCARBONATED HOLDSStandard&Poor's Ratings Services' ratings on Coca-Cola Femsa S.A.B. de C.V. (KOF) reflect the company's strong business fundamentals, The Coca-Cola Co.'s (KO; A+/Stable/A-1) implicit support through its 31.6% stake in KOF, and the strategic position that KOF holds in the Coke system in Latin America. In addition, the ratings incorporate the company's positive deleveraging four years after acquiring Panamerican Beverages Inc. The ratings also reflect our expectations that the company will continue to maintain its financial profile through robust cash flow generation in its core markets and an adequately designed debt repayment program. These factors are partially offset by a highly competitive environment, market volatility, and foreign currency exposure related to its dollar-denominated debt, which represents around 42.6% ofCoca-Cola Femsa, S.A.B. de C.V.30201030 302010 3020 30MEXglobal100.00308332590834Credit & Investment ResearchS&P Credit Research