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Issuer Ranking: European Packaging Companies, Strongest To Weakest Dec 09 Product Image

Issuer Ranking: European Packaging Companies, Strongest To Weakest Dec 09

  • Published: December 2009
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Gerresheimer AG
  • IFCO Systems N.V.
  • Impress Holdings B.V.
  • Kleopatra Lux 1 S.a.r.l
  • Rexam PLC
  • Yioula Glassworks S.A.
  • MORE

Abstract
Standard & Poor's Ratings Services believes that credit quality among the 10 rated European packaging companies is holding up generally well in the face of the adverse economic conditions. We observed sales volume declines of between 2% and 14% in this sector in the third quarter of 2009, depending on the segments companies serve. Traditionally, food and beverage packaging continue to perform better in a downturn than packaging for segments that we consider to be more discretionary. On the positive side, we see initial signs of stabilization because the pace of decline in sales volumes slowed in the third quarter of 2009. Furthermore, most companies were able to sustain their profitability, aided by efficiency and/or restructuring gains. We believe companies...

Companies mentioned in this report are:
- Rexam PLC
- Impress Holdings B.V.
- IFCO Systems N.V.
- Kleopatra Lux 1 S.a.r.l
- Clondalkin Industries B.V.
- Ardagh Packaging Group Ltd.
- Gerresheimer AG
- Yioula Glassworks S.A.
- Consol Glass (Proprietary) Ltd.
- Reynolds Group Holdings Ltd.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international READ MORE >

- Rexam PLC
- Impress Holdings B.V.
- IFCO Systems N.V.
- Kleopatra Lux 1 S.a.r.l
- Clondalkin Industries B.V.
- Ardagh Packaging Group Ltd.
- Gerresheimer AG
- Yioula Glassworks S.A.
- Consol Glass (Proprietary) Ltd.
- Reynolds Group Holdings Ltd.

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