Keurig Dr Pepper Inc.'s Proposed Senior Unsecured Notes Rated 'BBB'

NEW YORK (S&P Global Ratings) April 7, 2020--S&P Global Ratings today assigned its 'BBB' rating to Burlington, Ma.-based Keurig Dr Pepper Inc.'s (KDP's) proposed senior unsecured notes. The notes will rank pari passu with the company's existing senior unsecured debt. The company will use the net proceeds for general corporate purposes, including repaying outstanding commercial paper. The notes offering will be leverage-neutral. All of our existing ratings on the company, including our 'BBB' long-term issuer credit rating, are unchanged. The outlook is stable.v KDP's business strength is underpinned by its solid position in the beverage industry in North America, where it is the No. 1 player in the single-serve coffee sector and No. 3 in the liquid refreshment beverage industry.

...April 7, 2020 NEW YORK (S&P Global Ratings) April 7, 2020--S&P Global Ratings today assigned its '###' rating to Burlington, Ma.-based Keurig Dr Pepper Inc.'s (KDP's) proposed senior unsecured notes. The notes will rank pari passu with the company's existing senior unsecured debt. The company will use the net proceeds for general corporate purposes, including repaying outstanding commercial paper. The notes offering will be leverage-neutral. All of our existing ratings on the company, including our '###' long-term issuer credit rating, are unchanged. The outlook is stable.v KDP's business strength is underpinned by its solid position in the beverage industry in North America, where it is the No. 1 player in the single-serve coffee sector and No. 3 in the liquid refreshment beverage industry. Its diversified portfolio of hot and cold beverages and single-serve coffee should enable it to generate stable sales and profit growth. Currently, demand is increased for its K-cup pods and brewers,...

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