...NEW YORK (S&P Global) Sept. 7, 2016--S&P Global Ratings today assigned its '###+' issue-level rating to Plano, Texas-based Dr Pepper Snapple Group Inc.'s (DPS) proposed 10-year senior unsecured notes, final terms to be determined. The company intends to use the net proceeds to repay an upcoming bond maturity and for general corporate purposes. DPS benefits from strong and stable profit margins, above-average volume growth in several brands across its carbonated and noncarbonated portfolios, and ongoing productivity gains, which should allow for continued above-average industry EBITDA growth. The company also has very defendable market positions given the strength of its core and difficult-to-replicate Dr Pepper brand, the customer loyalty across many of its flavored carbonated drinks (including the fast-growing Penafiel brand in Mexico), and its strong brands in noncarbonated drinks (including Snapple and the Fiji and Bai5 water brands). We expect the company will continue to generate strong...
