The leading market position in the global soft drink industry, with significant brand equity; Broad geographic diversification; An expanding product portfolio; and Strong financial condition and cash flow. Weak macroeconomic conditions in select markets within its bottler network; and Exposure to volatile commodity costs and foreign currency exchange rates. The ratings on The Coca-Cola Co. (Coke) reflect our assessment of the company's business risk profile as "excellent" and financial risk profile as "modest." Key credit factors in our business risk assessment include its very strong position as the world's largest nonalcoholic beverage company, anchored by well-known brands, as well as its geographic diversification, which we believe will continue to translate into very strong profitability and cash flow. Our modest financial
