Portfolio of brands, with good brand recognition; Good cash flow generation; and Moderate financial policies. Competitive North American nonalcoholic beverage market; Limited geographic diversity and inability to expand as the company does not own its carbonated soft drink (CSD) brands outside of U.S., Canada, Mexico, and Caribbean; and Exposure to volatile costs of raw material. The ratings on Plano, Texas-based Dr Pepper Snapple Group Inc. (DPS) reflect Standard&Poor's Ratings Services' assessment of the company's "satisfactory" business risk profile (as defined in our criteria). Key credit factors considered in our assessment include DPS' position as the third-largest soft drink company in North America, good brand recognition and cash flow generation, yet relatively narrow business and geographic focus, with the
