The Coca-Cola Co.'s Senior Unsecured Notes Rated 'AA-'

NEW YORK (S&P Global Ratings) May 22, 2017--S&P Global Ratings today assigned its 'AA-' issue-level rating to Atlanta-based The Coca-Cola Co.'s (Coke's) proposed senior unsecured notes due 2022 and 2027; final amounts and terms to be determined upon the close of the transaction. The company is drawing these notes under its shelf registration and we believe it will use the net proceeds to repay short- and long-term borrowings, including debt under its tender offer to repay outstanding notes at wholly owned subsidiary Coca-Cola Refreshments USA Inc. Coke strongly benefits from its leading position as the world's largest nonalcoholic beverage company, anchored by well-known brands, above-average EBITDA margins, and broad geographic diversification, including an extensive global network of affiliated bottlers. We

...NEW YORK (S&P Global Ratings) May 22, 2017--S&P Global Ratings today assigned its '##-' issue-level rating to Atlanta-based The Coca-Cola Co.'s (Coke's) proposed senior unsecured notes due 2022 and 2027; final amounts and terms to be determined upon the close of the transaction. The company is drawing these notes under its shelf registration and we believe it will use the net proceeds to repay short- and long-term borrowings, including debt under its tender offer to repay outstanding notes at wholly owned subsidiary Coca-Cola Refreshments USA Inc. Coke strongly benefits from its leading position as the world's largest nonalcoholic beverage company, anchored by well-known brands, above-average EBITDA margins, and broad geographic diversification, including an extensive global network of affiliated bottlers. We believe this clearly outweighs the company's fairly narrow focus on nonalcoholic ready-to-drink beverages and negative public sentiment toward the high sugar content of certain carbonated...

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