On April 25, 2008, Standard&Poor's Ratings Services assigned its 'BBB-' rating to Dr Pepper Snapple Group Inc.'s (DPS) $1.7 billion senior note offering, consisting of $250 million of notes due 2013, $1.2 billion of notes due 2018, and $250 million of notes due 2038. At the same time, 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 Plano, Texas-based DPS reflect its position as the third-largest soft drinks company in
