DBRS Discontinues Coca-Cola Enterprises Ratings Following CCC Acquisition

DBRS has today discontinued the ratings on the Senior Unsecured Debt and Medium-Term Notes of Coca-Cola Enterprises Inc. (CCE or the Company). The rating action follows the closing of the acquisition of CCE’s North American bottling operations by The Coca-Cola Company (CCC). CCE’s European bottling operations have been spun off to International CCE (New CCE) and the CCE’s North American operations now reside at CCC. In addition, New CCE has acquired CCC’s bottling operations in Norway and Sweden and has the right to acquire CCC’s 83% stake in its German bottling operations. New CCE will be CCC’s strategic bottling partner in Western Europe.

The rating action reflects DBRS’s decision to monitor CCE through its coverage of CCC only in the future (see today’s press release on CCC) given its new status as a wholly-owned subsidiary. As such, this discontinuation is in no way related to credit concerns regarding CCE’s previous ratings and it is being made without resolution of the Under Review with Negative Implications status that was initiated on February 25, 2010.

Notes:
Coca-Cola Enterprises Inc. fully guarantees debt issued by Coca-Cola Enterprises (Canada) Bottling Finance.

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