DBRS Rates Coca-Cola’s $2.0 Billion Senior Unsecured Notes Issue at A (high) with Stable Trend

DBRS has today assigned a rating of A (high) with a Stable trend to The Coca-Cola Company’s (Coke or the Company) $2.0 billion senior unsecured notes (the Notes) issuance, which includes:

(1) $1.0 billion of 1.8% notes due September 1, 2016; and

(2) $1.0 billion 3.3% notes due September 1, 2021.

The Notes will be senior unsecured obligations ranking pari passu with Coke’s other senior unsecured indebtedness. Proceeds from the offering are expected to fund (1) the Company’s offer to exchange certain debt securities issued by Coca-Cola Refreshments USA, Inc. (a wholly-owned subsidiary of Coke) for a combination of debt securities to be issued by The Coca-Cola Company and cash, and (2) to repay a portion of the Company’s outstanding commercial paper.

Note:
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.