NEW YORK (Standard&Poor's) Dec. 23, 2002--Standard&Poor's Ratings Services said today that it affirmed its 'BBB' corporate credit rating on Mexico-based Coca-Cola FEMSA S.A. de C.V. (KOF) after the announcement of its intention to acquire Panama-based Panamerican Beverages Inc. (Panamco). The outlook is stable. At the same time, the 'BBB-' corporate credit rating on Panamco was placed on CreditWatch with positive implications, resulting from the positive implications of the planned transaction. "The affirmation of the ratings on KOF is based on Standard&Poor's opinion that the combination of the two bottlers will create the largest and most important bottler of Coca-Cola products in Latin America, and the second-largest bottler of the global Coca-Cola system. KOF's business
