COCA-COLA IÇECEK ANONIM SIRKETI Fitch Ratings affirmed Coca-Cola İçecek A.Ş.'s (CCI) Long Term Foreign Currency and Local Currency Issuer Default rating (IDR) and senior unsecured rating at 'BBB'. The Outlook on the IDRs is Stable.
The ratings reflect the company's sound operational performance in 2015 and its ability to maintain its conservative credit metrics, despite intense competition in Pakistan, the sharp devaluation of many of the currencies in its markets and an increase in the value of its foreign currency debt following a fall in the Turkish lira. They also reflect operational and strategic relationship with The Coca Cola Company (TCCC, 'A+'/Negative).
Coca-Cola İçecek (CCI) is the fifth-largest bottler in the Coca-Cola System in terms of sales volume. CCI produces, distributes and sells sparkling and still beverages of The Coca-Cola Company (TCCC) across Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq, Syria and Tajikistan.
CCI employs more than 10,000 people and has a total of 25 plants, offering a wide range of beverages to a consumer base of close to 380 million people. In addition to sparkling beverages, the product portfolio includes juices, waters, sports and energy drinks, teas and iced teas.
CCI's shares are traded on Borsa Istanbul (BIST) under "CCOLA.IS", American depositary receipts (ADR) are traded over the counter in the United States under "COLAY", Eurobond is traded on Irish Stock Exchange under "CCOLAT" tickers.
Contacts | |
Orhun Köstem Chief Financial Officer Tel: +90 216 528 4432 orhun.kostem@cci.com.tr | Deniz Can Yücel Investor Relations Manager Tel: +90 216 528 3386 deniz.yucel@cci.com.tr |
Coca-Cola Icecek Investor Relations I Tel: +90 216 528 3392 I Fax: +90 216 510 70 08 I CCI-IR@cci.com.tr I www.cci.com.tr
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Coca-Cola Içecek AS issued this content on 17 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 March 2016 10:58:35 UTC
Original Document: http://www.cci.com.tr/UserFiles/Special_CaseOzel_Durum/2016/Fitch Credit Rating 2016.pdf
