Spain-based beverage company Atic's operating and financial performance weakened due to the challenging business conditions in the markets where it operates. We are revising the outlook to negative from stable and affirming our 'BB' corporate credit and debt ratings on the company. The negative outlook reflects weaker-than-expected performance in light of the competitive and economic conditions, which could continue to pressure EBITDA margins, increase the company's cash flow volatility, and weaken its key credit metrics and liquidity during 2014. MEXICO CITY (Standard&Poor's) May 16, 2014--Standard&Poor's Ratings Services revised its outlook on Grupo Embotellador Atic S.A. (Atic) to negative from stable. At the same time, we affirmed our 'BB' corporate credit and debt ratings on the company.
