US: S&P upgrades Dr Pepper Snapple Group
DPS has “improved financial profile”
Standard & Poor's has upgraded Dr Pepper Snapple Group’s rating based on the soft drink firm’s “improved financial profile”.
Standard & Poor's ratings services yesterday (22 March) raised Dr Pepper Snapple's rating to BBB from BBB- and removed it from CreditWatch.
The firm also recently reported a return to profits in 2009.
Analyst group UBS also upgraded the firm to buy from neutral earlier this month, saying that it does not believe the market is fully valuing strong fundamentals for the business.
Dr Pepper Snapple shares rose 1.71% or 0.62 cents to $36.80 at 16.01 ET in US trading yesterday.
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