Coca-Cola Co.'s Euro-Denominated Senior Unsecured Notes Rated 'A+'

CHICAGO (S&P Global Ratings) May 7, 2024--S&P Global Ratings today assigned its 'A+' issue-level rating to Atlanta-based Coca-Cola Co.'s (Coke) proposed euro-denominated senior unsecured notes due 2032 and 2044 (final amounts to be determined). The notes will rank equally with the company's existing senior unsecured notes. Coke is drawing these notes under its shelf registration dated Oct. 28, 2022. Coke intends to use the net proceeds, together with proceeds from the recent U.S. dollar-denominated notes offering, for general corporate purposes, including potentially working capital, capital expenditure, acquisitions, investments in the business, debt repayment, and potential payments in connection with ongoing tax litigation with the U.S. IRS. We view the contemplated note offerings as leverage neutral. All our ratings on Coke,

...May 7, 2024 CHICAGO (S&P Global Ratings) May 7, 2024--S&P Global Ratings today assigned its 'A+' issue-level rating to Atlanta-based Coca-Cola Co.'s (Coke) proposed euro-denominated senior unsecured notes due 2032 and 2044 (final amounts to be determined). The notes will rank equally with the company's existing senior unsecured notes. Coke is drawing these notes under its shelf registration dated Oct. 28, 2022. Coke intends to use the net proceeds, together with proceeds from the recent U.S. dollar-denominated notes offering, for general corporate purposes, including potentially working capital, capital expenditure, acquisitions, investments in the business, debt repayment, and potential payments in connection with ongoing tax litigation with the U.S. IRS. We view the contemplated note offerings as leverage neutral. All our ratings on Coke, including our 'A+' long-term issuer credit rating, are unchanged. The outlook is stable. Coke's business strength is underpinned by its very strong...

Ratings Action