Portfolio of brands with good brand recognition; Good cash flow generation; and Commitment to debt reduction in the near term. High debt levels; Competitive North American beverage markets, including exposure to volatile raw material costs; Concentration of Dr Pepper brand, which accounts for about 34% of sales volume and an even greater share of revenues and profits; and Limited geographic diversity and inability to expand outside North America The ratings on Plano, Texas-based Dr Pepper Snapple Group Inc.'s (DPS) reflect its position as the third-largest soft drinks company in North America, and its good brand recognition and cash flow generation. However, DPS' significant debt levels, narrow business focus, the challenging industry conditions within the mature and low-growth markets in which
