NEW YORK (Standard&Poor's) April 25, 2008--Standard&Poor's Ratings Services said today it assigned its 'BBB-' rating to Plano, Texas-based Dr Pepper Snapple Group Inc.'s (DPS) $1.7 billion senior note offering. At the same, Standard&Poor's affirmed its other ratings on DPS, including its 'BBB-' corporate credit rating. The outlook is negative. Net proceeds from the company's note offering and $2.2 billion term loan will finance DPS' planned separation from Cadbury Schweppes PLC. Pro forma for the transaction, DPS will have approximately $3.9 billion of debt outstanding. "The ratings on DPS reflect its position as the third-largest soft drinks company in North America, and its good brand recognition and cash flow generation," said Standard&Poor's credit
