U.S.-based packaging company Silgan Holdings Inc. is issuing senior secured credit facilities to repay existing facilities and other uses. We are assigning our 'BBB' and '1' recovery ratings to Silgan's proposed facilities. We are affirming our 'BB+' corporate credit rating on Silgan and revising the outlook to stable from positive. The stable outlook reflects our expectation that potential acquisitions and share repurchases could result in credit measures trending down from currently above par levels. As a result, an upgrade is not likely during the timeframe that we had previously envisioned. NEW YORK (Standard & Poor's) June 10, 2010--Standard & Poor's Ratings Services said today that it revised its outlook on Silgan Holdings Inc. to stable from positive and affirmed its...
Companies mentioned in this report are: Silgan Holdings Inc.
Action: New Rating
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.