NEW YORK (Standard&Poor's) Feb. 26, 2013--Standard&Poor's Ratings Services said today that it assigned its 'A-' issue-level rating to Purchase, N.Y.-based PepsiCo Inc.'s $2.5 billion senior unsecured notes offering, consisting of a $625 million floating rate tranche due 2016, a $625 million tranche of 0.7% fixed rate notes due 2016, and a $1.25 billion tranche of 2.75% fixed rate notes due 2023. The company issued the notes under its Rule 415 shelf registration. PepsiCo has indicated that it plans to use the net proceeds from this offering for general corporate purposes. Our senior unsecured debt rating on PepsiCo, which is at the holding company level, reflects our opinion that this debt is structurally subordinated to priority obligations
