Venezuela’s deepening economic crisis is
costing Mexican bottler Coca-Cola Femsa SAB. The company said Thursday it
reduced the value of its revenue from Venezuela by 95 percent as the nation’s
currency collapses and inflation soars. The move turned an increase in
second-quarter profit into a decline. The turmoil in Venezuela has been taking
an increasing toll on the world’s biggest franchised Coca-Cola bottler. During
the past six months, its $3 billion of bonds underperformed most
investment-grade debt out of Mexico. More….
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