...October 7, 2019 CHICAGO (S&P Global Ratings) Oct. 7, 2019--S&P Global Ratings today assigned its 'A+' issue-level rating to New York-based PepsiCo Inc.'s proposed senior unsecured green bonds. The company will use the net proceeds to fund, in whole or in part, eligible green projects that promote selected sustainable development goals. The notes rank pari passu with its existing senior unsecured debt. We view the transaction as leverage neutral. All of our ratings on PepsiCo, 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. Its 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...
