CHICAGO (S&P Global Ratings) April 28, 2025--S&P Global Ratings today assigned its ?BBB? issue-level rating to Keurig Dr Pepper Inc. ?s (KDP) proposed senior unsecured notes (final amounts and maturities to be determined). The company intends to use the net proceeds for general corporate purposes, including repayment of commercial paper borrowings and/or certain of its senior notes. All of our ratings on KDP, including our ?BBB? long-term and ?A-2? short-term issuer credit ratings, are unchanged. The outlook is stable. Our ratings on KDP reflect its dominant position in the single-serve coffee sector and non-cola carbonated soft drink (CSD) subcategory; good momentum particularly in the U.S. refreshment beverages business, including its CSD brands as well as its expanding energy drink business
