Fitch Ups Chile’s Embotelladora Andina

Fitch has upgraded Chile’s Embotelladora Andina to A stable from A minus, including the Yankee bonds due 2027. The agency notes a “continued strong business position and financial profile.” Growth in cash flow was driven by a favorable economic climate in the region and strong execution by the company at the point-of-sale, the agency adds. “During 2007, Andina’s soft drink sales volumes grew by 5.4%, while its total beverage sales volumes grew by 6.3%,” Fitch says. The largest threat to the company’s cash flow is an economic crisis in Argentina, the agency says. Andina is one of the largest bottlers of Coca-Cola products in LatAm.