Coca-Cola Amatil (CCL) says recent changes to its credit rating and outlook are not expected to have any short to medium-term impact on the beverage maker as it has pre-funded maturing debt for approximately two years.
CCA confirmed that Moody's had changed their rating outlook from stable to negative, while maintaining its long term A3 rating.
Yesterday, ratings agency Standard & Poor's cut its long-term rating for Coca-Cola Amatil, blaming mounting competition and margin weakness for the impact on the beverage maker's operating performance.
S&P cut Coca-Cola's long-term rating to BBB from A- and kept its outlook stable, while affirming the group's short-term rating at A-2.
CCA said all of its 2014 and 2015 maturing debt has already been refinanced with the related cash currently held on term deposits at margins above its associated borrowing cost.