Research Update: Silgan Holdings Inc.'s $1.7 Billion Senior Secured Credit Facilities Rated 'BBB-' (Recovery Rating: '2') Jan 14
- Language: English
- Published: January 2014
The ratings reflect Silgan Holdings Inc.'s average business position as a major North American rigid consumer goods packaging producer and steady cash flow generation, offset by a narrow product mix, limited geographic diversity, and aggressive debt leverage. Stamford, Conn.-based Silgan is the largest producer of metal food cans in North America, and enjoys a dominant volume share estimated at about 49%. The firm's business mix is about 75% in metal food cans, and 25% in plastic bottles and containers primarily for personal care products, wherein the company enjoys a co-leadership position. Although the metal can industry is mature and competitive, end markets are relatively stable. However, they are subject to some seasonal variations in food production and consumer buying habits....
Companies mentioned in this report are: Silgan Holdings Inc.
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Silgan Holdings Inc.