DBRS Rates The Pepsi Bottling Group, Inc. $750 Million Note Issue at A (high)

DBRS has today assigned a rating of A (high) with a Stable trend to Bottling Group, LLC’s issue of $750 million, 5.125% Senior Unsecured Notes (the Notes) due January 15, 2019. Bottling Group, LLC is the principal operating subsidiary of The Pepsi Bottling Group, Inc. (PBG or the Company).

The Notes will be unsecured obligations, ranking pari passu with PBG’s other senior unsecured indebtedness.

Proceeds of the issue, along with proceeds from the Company’s $1.3 billion senior notes issue completed in October 2008, are expected to be used primarily to repay maturing (February 2009) senior notes and to refinance outstanding commercial paper balances related to recent acquisitions.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Consumer Products, which can be found on our website under Methodologies.

This is a Corporate rating.