Industry Report Card: Global Packaging Struggles Through Another Quarter Of High Input Costs May 06
Standard & Poors, May 2006
Abstract
The outlook for credit quality in the global packaging sector remains negative, reflecting an increase in inflationary cost pressures arising from high and volatile raw-material prices in the U.S. and Europe, as well as elevated energy costs. The proportion of negative outlooks in the sector remains high at 39% in May 2006, continuing to reflect significant pressure on ratings. Overall, the distribution of outlooks and CreditWatch implications among the rated issuers in the sector includes 13% positive, 39% negative, 45% stable, and 3% developing. The pace of negative rating actions was in line with the prior quarter, with two downgrades and no upgrades, although credit trends have stabilized somewhat from late 2005. In terms of outlook revisions, there were two...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Avery Dennison Corp.
- Bemis Co. Inc.
- Crown Holdings Inc.
- Viskase Cos. Inc.
- Atlantis Plastics Inc.
- Sonoco Products Co.
- Silgan Holdings Inc.
- Sealed Air Corp.
- Amcor Ltd.
- Rexam PLC
- Berry Plastics Corp. (old)
- Portola Packaging Inc.
- Radnor Holdings Corp.
- Tekni-Plex Inc.
- BWAY Corp.
- Impress Holdings B.V.
- AEP Industries Inc.
- Graham Packaging Holdings Co.
- Ball Corp.
- Consolidated Container Co. LLC
- Pactiv Corp.
- IFCO Systems N.V.
- Solo Cup Co.
- Plastipak Holdings Inc.
- Kleopatra Lux 1 S.a.r.l
- Constar International Inc.
- Ardagh Packaging Holdings Ltd.
- Clondalkin Industries B.V.
- Intertape Polymer Group Inc.
- Mauser Beteiligungs GmbH
- Gerresheimer AG
- Pregis Corp.
- Yioula Glassworks S.A.
- Exopack Holding Corp.
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