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BULLETIN: Coca-Cola Amatil Ltd.'s Strong Results Meet Expectations Feb 04
Standard & Poors, Feb 2004
Abstract
MELBOURNE (Standard & Poor's) Feb. 13, 2004--Standard & Poor's Ratings Services said today that Coca-Cola Amatil Ltd.'s (CCA; A-/Stable/A-2) underlying results for 2003 were in line with expectations and the ratings on the company are unaffected. Although the Australian and Oceania (New Zealand, Papua New Guinea, and Fiji) operations continued to produce strong returns, the returns from the South Korean operation were significantly below expectations as the country continued to endure difficult economic conditions. CCA's after-tax earnings were also dampened by a one-off significant item regarding the settlement with the Australian Tax Office of a long-disputed tax liability of A$44.6 million, which relates back to the demerger of its European operation in 1998. The additional tax was expensed in 2003...
Companies mentioned in this report are: Coca-Cola Amatil Ltd.
Action: Bulletin
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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