S&P rates Keurig Dr Pepper notes BBB

S&P said it rated Keurig Dr Pepper Inc.'s planned senior unsecured notes, which it expects to issue in three tranches with maturities of seven, 10 and 30 years, respectively, BBB. The final amounts are to be determined.

The company is expected to use the proceeds to partially tender various outstanding notes maturing through 2048, which will cause its pro forma S&P Global Ratings-adjusted debt to EBITDA to remain unchanged relative to fiscal year-end 2021 at 3.9x.

The outlook is stable.

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