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Bulletin: Coca-Cola Amatil Ratings Unchanged After Capital Return, Bluetongue Acquisition Announcement Dec 07
Standard & Poors, Dec 2007
Abstract
MELBOURNE (Standard & Poor's) Dec. 5, 2007--Standard & Poor's Ratings Services said today that its 'A-/Stable/A-2' corporate credit ratings and outlook on Coca-Cola Amatil Ltd. (CCA) are unaffected by the company's announcement of an A$170 million off-market share buyback, which will be completed in 2008; and the acquisition of Bluetongue Brewery Pty Ltd. by Pacific Beverages, CCA's 50:50 joint venture with SABMiller PLC (BBB+/Stable/A-2). CCA's improved operating performance from continuing businesses and proceeds from asset sales provide the company with reasonable capacity at the current ratings to execute its proposed share buyback and Bluetongue acquisition. The Bluetongue brands will complement Pacific Beverages' product portfolio, as it will add to its product offering in the premium beer segments. In October 2007,...
Companies mentioned in this report are: Coca-Cola Amatil Ltd.,SABMiller PLC
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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