Moody’s may upgrade PepsiCo debt
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- December
- 18
Moody’s Investors Service Inc. announced today that it is considering raising PepsiCo’s long-term Aa3 debt-rating as well as that of its subsidiaries. The review was prompted by PepsiCo’s continued strong financial performance, robust growth and reduction in foreign debt at its international subsidiaries, Moody’s said. The review will also look at PepsiCo more broadly, taking into account the company’s franchise strength and the combined financial strength of PepsiCo and its largest bottlers, Moody’s said. The debt-rating service also affirmed its Prime-1 rating on PepsiCo’s short-term debt. The Purchase-based beverage-and-snacks giant had revenues of $32.6 million last year, Moody’s noted, adding that 61 percent of that is derived from U.S. sales.
This entry was posted
on Monday, December 18th, 2006 at 3:17 pm by David Schepp.
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