Our ratings on The Coca-Cola Co. (Coke) continue to reflect its position as the world's largest manufacturer of nonalcoholic beverage concentrates and syrups, as well as its geographic diversification, which translates into strong profitability and cash flow. Strong brand awareness has contributed to Coke's roughly 42% leading share in the mature U.S. carbonated soft drink (CSD) market and an estimated worldwide CSD market share of 50%. The company's excellent business profile is supported by 13 billion-dollar brands, including the Coca-Cola brand, the world's most valuable brand according to Interbrand. The ratings also incorporate a degree of implied support from Coke that we have factored into the ratings of Coke bottlers, including Coca-Cola Amatil Ltd., Coca-Cola Bottling Co. Consolidated, Coca-Cola Femsa,
