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
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.
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