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Bulletin: Sealed Air Corp.'s Plan To Repurchased 20 Million Shares Does Not Affect Rating or Outlook Aug 07 Product Image

Bulletin: Sealed Air Corp.'s Plan To Repurchased 20 Million Shares Does Not Affect Rating or Outlook Aug 07

  • ID: 2086033
  • August 2007
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Aug. 10, 2007--Standard & Poor's Ratings Services said today that an announcement by Sealed Air Corp. (BBB/Negative/--) that its board has authorized the repurchase of up to 20 million shares (12.4% of the company's stock outstanding) will not cause a change in the rating or outlook. This program, which replaces an earlier one, may be suspended, modified, or discontinued at any time and has no set expiration date. The pace of repurchase activity will depend on the level of operating cash flow, investment opportunities, debt repayment, and other factors. It is important to note that we expect Sealed Air to continue to gradually reduce debt and increase cash flow to strengthen its credit profile to...

Companies mentioned in this report are: Sealed Air Corp.
Action: Bulletin

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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Sealed Air Corp.

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