New York, April 25, 2013 -- Moody's Investors Service said today that Coca-Cola Enterprises' (CCE) announcement that it expects to increase its share repurchases in 2013 to approximately $1 billion on the heels of the announcement that it is also mutually agreeing with The Coca-Cola Company (KO) to the expiration of its exclusive rights to buy the German bottler now owned by KO is a credit negative, although the A3 rating and stable outlook remain unchanged. The announcement of higher share repurchases follows a 25% increase in the dividend earlier this year.

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