S&P: Dr. Pepper notes BBB+

Standard & Poor’s said it assigned a BBB+ rating to Dr. Pepper Snapple Group Inc.’s proposed senior unsecured notes due 2025 and 2045.

The proceeds will be used to repay an upcoming bond maturity and general corporate purposes.

The company benefits from strong and improving profit margins, above-average volume growth in several brands across its carbonated and non-carbonated portfolios and ongoing productivity gains, S&P said.

The company also has very defendable market positions given the strength of its core, inimitable Dr Pepper brand, customer loyalty across many of its flavored carbonated drink brands and strong non-carbonated drink brands, the agency added.

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