PepsiCo Credit Rating Downgraded by Moody’s
February 25, 2010 /EIN PRESSWIRE/ PepsiCo’s credit rating has been downgraded by Moody’s Investors Service from Aa2 to Aa3 in light of the company’s debt load following acquisitions.
The move comes as PepsiCo acquired two of its biggest bottlers, PepsiAmericas and Pepsi Bottling Group, and ran up the debt in the process.
Although Moody’s knocked PepsiCo down a peg, the investors service said PepsiCo’s outlook is stable and that it doesn’t anticipate another rating change for 12-18 months.
The news comes as rival Coca-Cola is considering a similar move to acquire its biggest bottler.
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