NEW YORK (Standard&Poor's) Dec. 14, 2010--Standard&Poor's Ratings Services today assigned its 'A-2' short-term corporate credit and commercial paper ratings to Dr Pepper Snapple Group Inc.'s (DPS; BBB/Stable/--) new 4(2) commercial paper program. The size of the program is up to $500 million, fully back stopped by the company's existing $500 million unsecured revolving credit facility due 2013. The corporate credit rating on Plano, Texas-based DPS reflects its position as the third-largest soft drink company in North America, good brand recognition, cash flow generation, and intermediate financial risk profile. However, DPS' relatively narrow business and geographic focus and participation in the mature and low-growth markets in which it competes somewhat temper these positives. See summary rational published
