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Ardagh Glass Group Outlook Revised To Stable On Impress Holdings Acquisition; 'B+' Ratings Affirmed Sep 10
Standard & Poors, Sep 2010
Abstract
Ardagh Glass has announced its intention to acquire Impress Holdings. We are affirming our 'B+' long-term corporate credit rating on Ardagh Glass and revising the outlook to stable from negative. The stable outlook assumes that Ardagh acquires Impress by the end of 2010, and reflects our anticipation of an improvement in Ardagh Glass' business risk profile, which we expect to offset a weaker financial risk profile resulting from the acquisition. FRANKFURT (Standard & Poor's) Sept. 28, 2010--Standard & Poor's Ratings Services said today that it had revised its outlook on Ireland-based glass-container manufacturer Ardagh Glass Group PLC (Ardagh) and its related entity Ardagh Glass Holdings Ltd. to stable from negative. At the same time, we affirmed the 'B+' long-term corporate...
Companies mentioned in this report are: Ardagh Packaging Group PLC,Ardagh Packaging Holdings Ltd.,Ardagh Glass Finance PLC,Ardagh Packaging Finance PLC
Action: Affirmed
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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