1. Reputational harm in the event that code needs to be shared. Say, the code gets read in court, or an outside consultant is brought in who is given access to the code. The company likely wants to maintain the same standard of professionalism that they expect when their employees write or utter spoken language in the workplace for the same reasons.
2. Similar to #1 but nuanced enough to deserve its own mention: code is a business asset. It can be sold or licensed out. The company may fear that language that it deems unprofessional could depreciate the value of that code in the context of selling or licensing it to 3rd parties.
Personally I think that the fuss over "bad words" is deeply irrational to a religious degree. The idea that arbitrary sequences of phones or characters will cause anyone within ear or eye-shot to become offended is rather absurd. But you can't choose what planet you do business on and, on Earth, there are a lot of silly people.