MEXICO CITY (S&P Global Ratings) Feb. 25, 2021--S&P Global Ratings today said that the Coca-Cola System in Brazil and Heineken N.V. have reached an agreement to overhaul their distribution partnership in Brazil. The Heineken and Amstel brands will transition to the Dutch brewer's Brazilian distribution network, while the Coca-Cola System in Brazil, consisting of The Coca-Cola Co. (TCCC: A+/Negative/A-1), Coca-Cola Femsa S.A.B. de C.V. (KOF; global scale: BBB+/Negative/--; national scale: mxAAA/Stable/--), Embotelladora Andina S.A. (Andina; BBB/Stable/--), and an additional seven non-public bottlers will continue to distribute the Kaiser, Bavaria, and Sol brands. In addition, the Coca-Cola System in Brazil will complement its portfolio with premium brand Eisenbahn and likely other international brands. We believe the new agreement is an important
