Standard&Poor's Ratings Services views The Coca-Cola Co. (Coke) and its select bottlers as a system (Coke System), and analytically consolidates key bottlers Coca-Cola Enterprises Inc. (CCE) and Coca-Cola Hellenic Bottling Co. S.A. (CCHBC), although they are not consolidated for accounting purposes. Even though Coke has no legal obligation for the debt of these bottlers, our ratings on CCE and CCHBC are based on Coke's significant incentive to keep them viable due to their strategic importance, Coke's ownership positions, the size of its investments in them, and the companies' unique interdependent customer/supplier relationship. (See "Credit FAQ: Ratings Methodology For the 'Coke System' And Other Rated Bottlers," published March 5, 2008 on RatingsDirect.) Our ratings on Coke reflect our analysis
