CHICAGO (AP) - Fitch Ratings on Thursday affirmed its credit ratings of PepsiAmericas Inc. after the bottler and beverage company PepsiCo Inc. announced plans to buy a majority stake of a Ukrainian juice company.
PepsiAmericas and PepsiCo said Thursday they will jointly purchase 80 percent of Sandora LLC for $542 million. The two companies will then buy the remainder of the company this November.
'The acquisition provides PepsiAmericas and PepsiCo with a strong platform for growth in the emerging Ukrainian market, one of fastest growing beverage markets in Europe,' the ratings company said.
PepsiAmericas has 'A', or investment grade, issuer default, senior unsecured debt and credit facility ratings. It also has an 'F1', or best quality grade, rating for commercial paper.
The ratings all have a stable outlook.
PepsiAmericas shares fell 49 cents, or 2.1 percent to $23.47 Thursday.
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