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BULLETIN: Ratings on Coca-Cola Amatil Unaffected by Half-Year Results Aug 03
Standard & Poors, Aug 2003
Abstract
MELBOURNE (Standard & Poor's) Aug. 22, 2003--Standard & Poor's Ratings Services today said its 'A-' long-term and 'A-2' short-term corporate credit ratings on Coca-Cola Amatil Ltd. (CCA) are unaffected by CCA's recent half-year results. The outlook on the ratings is stable. CCA is expected to meet its full-year targets, notwithstanding its debt-funded acquisitions of Neverfail Springwater Ltd. and Peats Ridge Spring. While Peats Ridge was a small bolt-on acquisition, when combined with the acquisition of Neverfail (Australia's largest supplier of water to the home and office markets) they will collectively account for nearly A$300 million of debt on CCA's year-end balance sheet. Although significant benefits are expected from the acquisitions in the medium term, the additional initial debt burden could...
Companies mentioned in this report are: Coca-Cola Amatil Ltd.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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