NEW YORK (Standard&Poor's) March 22, 2006--Standard&Poor's Ratings Services today said it has placed its 'BBB' local and foreign currency corporate credit ratings on Coca-Cola FEMSA S.A. de C.V. on CreditWatch with positive implications. "The rating action follows our review of the 2005 year-end results that confirms the company's positive de-leveraging three years after acquiring Panamerican Beverages Inc.," said Standard&Poor's credit analyst Luis Martinez. Coca-Cola FEMSA had $1.89 billion in debt outstanding at Dec. 31, 2005. Mexico-based Coca-Cola FEMSA's business risk profile reflects its leading position in the Mexican soft drink market and the solid integration of its franchise territories throughout Latin America. Its leading position is explained mainly by the strong brand recognition in
