Moody's ups Dr. Pepper Snapple

Moody's Investors Service said it upgraded Dr. Pepper Snapple Group, Inc.'s long-term debt rating to Baa2 from Baa3.

The outlook is positive.

The upgrade reflects good business momentum and substantial improvement in financial metrics since the company's spinoff from Cadbury in May 2008, Moody's said.

The company completed its first full year of operation as an independent company in 2009, demonstrating that even in a difficult economy it could generate healthy cash flows and profitability, the agency said.

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