Kepler has downgraded Coca-Cola HBC due to concerns that its recent deal with CCBA may hinder near-term value creation. The deal involves merging Coca-Cola Beverages Africa with Coca-Cola European Partners, creating a new entity. Kepler believes the deal may pose challenges for Coca-Cola HBC in the short term.

Read more at Investing.com: Kepler downgrades Coca-Cola HBC as CCBA deal hinders near-term value creation