Fitch Ratings affirms Coca-Cola Icecek at 'BBB-'

Fitch Ratings has affirmed Coca-Cola Icecek's (CCI) Long-Term Foreign- (FC), and Local-Currency (LC) Issuer Default Ratings (IDRs) and senior unsecured long-term rating at 'BBB-,' Report informs, citing the Agency.

The rating outlook remains Positive.

"The positive outlook reflects our expectation that the company's financial profile will remain resilient, with consistently strong operating profitability counterbalancing a weak operating environment in a number of CCI's markets of operations. Inherent foreign-exchange (FX) risks related to hard-currency-denominated debt and part of operating costs remain the key rating constraints," the Agency said.

Coca-Cola Icecek operates in Turkiye, Pakistan, Kazakhstan, Iraq, Uzbekistan, Azerbaijan, Kyrgyzstan, Jordan, Tajikistan, Turkmenistan, and Syria.