The leading market position in the global soft drink industry; Broad international diversification; An expanding product portfolio; and Strong financial condition and cash flow. High debt levels at key bottler Coca-Cola Enterprises Inc.; and Challenging conditions in the system's bottlers key markets. The ratings on Atlanta, Ga.-based The Coca-Cola Co. reflect the company's 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 43% leading share in the mature U.S. carbonated soft drink (CSD) market and an estimated worldwide CSD market share of 50%. The ratings also incorporate Coke's strong financial profile and relationship with two
