...NEW YORK (S&P Global Ratings) Oct 5, 2017--S&P Global Ratings today assigned its 'A+' issue-level rating to Purchase, N.Y.-based food and beverage company PepsiCo Inc.'s proposed senior unsecured notes due 2021 and 2027. At the same time, we assigned our 'A+' ratings to the company's floating rate notes due in 2018. Final amounts are to be determined. The notes are senior unsecured obligations of the company and their 'A+' ratings are the same as the PepsiCo corporate credit rating, reflecting negligible subordination risk as PepsiCo does not have any secured debt obligations in its capital structure. The company has indicated it plans to use the net proceeds from this offering for general corporate purposes, including the repayment of commercial paper. PepsiCo's 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 underpin its business...
