Coca-Cola FEMSA Rating Adjustment by Moody's

Moody's Ratings has downgraded Coca-Cola FEMSA (KOF) to Baa1 from A3, following the downgrade of the Government of Mexico's rating. KOF's outlook has also been revised from Stable to Negative. Despite the downgrade, Moody's noted that KOF remains rated two notches above the sovereign due to its strong credit metrics, ample liquidity, limited reliance on the local banking system, and significant cash generation outside of Mexico. Coca-Cola FEMSA is the world's largest franchise bottler by sales volume, serving over 268 million consumers across Mexico, Brazil, Guatemala, Colombia, Argentina, Costa Rica, Nicaragua, Panama, Uruguay, and Venezuela. The company emphasizes its commitment to generating economic, social, and environmental value for all stakeholders.