Coke System Rtgs Put on Watch Neg by S&P After Anncmt Dec 98
- ID: 2042692
- December 1998
- Standard & Poors
NY -- Standard & Poor's CreditWire 12/11/1998 -- Standard & Poor's today placed its ratings of The Coca-Cola Co. (Coke) on CreditWatch with negative implications, as listed below. The long-term ratings of Coca-Cola Enterprises Inc. (CCE) and Coca-Cola Amatil Ltd. (CCA) were also placed on CreditWatch with negative implications (see list). It is unlikely that these ratings placed on CreditWatch for possible downgrade would be lowered more than one notch. The 'A-1' short-term ratings for CCE and CCA were affirmed and are not placed on CreditWatch. The CreditWatch listings follow Coke's announcement of its intention to acquire the Cadbury Schweppes beverage brands in more than 120 countries for about $1.85 billion. Standard & Poor's believes that this acquisition will likely...
Companies mentioned in this report are:
- The Coca-Cola Co.
- Coca-Cola Enterprises Inc.
- Coca-Cola Amatil Ltd.
- Coca-Cola Amatil (N.Z.) Ltd.
Action: On CreditWatch:Negative
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