...NEW YORK (Standard & Poor's) Oct. 29 2015--Standard & Poor's Ratings Services today assigned its '###+' issue-level rating to Plano, Texas-based Dr Pepper Snapple Group Inc.'s (DPS) proposed senior unsecured notes due 2025 and 2045, 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 improving 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-industry-average EBITDA growth. 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 (including the fast-growing Penafiel brand in Mexico), and its strong noncarbonated drink brands (including Snapple and the Fiji and Bai5 water brands). We expect the company will continue...
