PepsiCo Inc.'s Proposed Senior Unsecured Euro-Denominated Notes Rated 'A+'

CHICAGO (S&P Global Ratings) Oct. 8, 2019--S&P Global Ratings today assigned its 'A+' issue-level rating to New York-based PepsiCo Inc.'s proposed senior unsecured euro-denominated notes. The company will use the net proceeds from the offering for general corporate purposes. The notes will rank pari passu with the company's existing senior unsecured debt. All of our existing ratings on the company, including our 'A+' long-term issuer credit rating, are unchanged. The outlook is stable. PepsiCo's business strength is underpinned by its strong brands, balanced portfolio of businesses (with leading and defendable market shares in the relatively stable nonalcoholic beverage and savory snack product categories), and improved operating execution. The company's portfolio includes 22 brands that each generate more than $1 billion

...October 8, 2019 CHICAGO (S&P Global Ratings) Oct. 8, 2019--S&P Global Ratings today assigned its 'A+' issue-level rating to New York-based PepsiCo Inc.'s proposed senior unsecured euro-denominated notes. The company will use the net proceeds from the offering for general corporate purposes. The notes will rank pari passu with the company's existing senior unsecured debt. All of our existing ratings on the company, including our 'A+' long-term issuer credit rating, are unchanged. The outlook is stable. PepsiCo's business strength is underpinned by its strong brands, balanced portfolio of businesses (with leading and defendable market shares in the relatively stable nonalcoholic beverage and savory snack product categories), and improved operating execution. The company's portfolio includes 22 brands that each generate more than $1 billion in estimated annual retail sales. We assume PepsiCo will manage its increasingly aggressive growth plans--which include organic initiatives centered around...

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