US: PepsiCo debt rating raised
PepsiCo's senior long-term debt rating has been raised by Moody's. The investors' service upped its rating on the soft-drink maker to "Aa3" from "A1." Moody's cited Pepsi's improved financial performance and balance sheet.
The upgrade is Moody's fourth highest, putting PepsiCo's long-term debt at the same level as that of Coca Cola Co. Moody's affirmed PepsiCo's "Prime 1" short-term debt rating, and said the company's outlook is "stable."
Moody's believes PepsiCo will probably continue to use free cash flow to fund about US$2 billion of share buybacks per year.
In the battle of the giants, PepsiCo has stolen a march on Coca-Cola over the last year or so and its performance in the first half of the current fiscal year suggests it is still has the upper hand. ...
A recent report on the UK soft drinks market showed that growth in non-carbonates at the expense of traditional carbonated soft drinks is much less marked in the on-premise sector than in the take-hom...
A departing PepsiCo executive is to be handed a US$4.56m package spread over the next two years for his consultancy services....
The Pepsi Bottling Group has signed a letter of intent to acquire Pepsi-Cola Bottling Company of Charlotte (Pepsi Charlotte) for an undisclosed sum....
The Pepsi Bottling Group today reported second quarter net income of US$148m, or diluted earnings per share (EPS) of $0.59. The results were up on the same period last year as the company grew volumes...
Pepsi-Co. has been removed from a Syrian blacklist of companies which have dealings with Israel, according to a report in the official Syrian newspaper al-Thawra....
Pepsi has launched a new 50cl silver-coloured bottle for its Pepsi light soft drink as part of a major advertising campaign to roll out this summer in Spain....
PepsiCo's president and CFO, Indra Nooyi, has been forced to apologise for remarks she made whilst speaking to the 2005 graduating class of Columbia University's Business School in New York City last ...
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