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BULLETIN: Coca-Cola Amatil's Ratings Not Affected by Aquisition Apr 03
Standard & Poors, April 2003
Abstract
MELBOURNE (Standard & Poor's) April 29, 2003-- Standard & Poor's Ratings Services said today that Coca-Cola Amatil Ltd.'s (CCA; A-/Stable/A-2) ratings and outlook are not immediately affected by its A$280 million bid (including assumed debt) for Neverfail Springwater Ltd., Australia's largest supplier of water to the home and office market. The acquisition is in line with CCA's strategy to broaden its beverage business and would double CCA's water volumes-a category that is one of Australia's fastest-growing nonalcoholic beverages. Although wholly debt-funded, CCA has sufficient capacity at its current rating to accommodate the acquisition, with its net debt to capital expected to increase to about 38% on completion of the transaction from about 35% at the end of April 2003. The...
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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