...NEW YORK (S&P Global) June 5, 2017--S&P Global Ratings today assigned its '###+' issue-level rating to Plano, Texas-based Dr Pepper Snapple Group Inc.'s (DPS') proposed senior unsecured notes due 2027 and 2045. The notes are rated the same as the '###+' corporate credit rating on the company, and will be fully and unconditionally guaranteed by the company's existing and future subsidiaries that guarantee the company's other indebtedness. The company intends to use net proceeds together with commercial paper to fund the purchase of the company's 2018 notes and $125 million of its 2038 notes, 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-industry-average EBITDA growth. The company also has very defendable market positions given the strength of its core and difficult-to-replicate Dr...
