- Language: English
- 104 Pages
- Published: January 2011
- Region: Turkey
Silgan Holdings Inc. Ratings Placed On CreditWatch Negative; Graham Packaging Ratings Placed On Watch Positive Apr 11
- Published: April 2011
- Standard & Poors
U.S.-based packaging producer Silgan Holdings Inc. announced that it has entered into a definitive merger agreement to acquire Graham Packaging Co. Inc. in a transaction valued at about $4.5 billion, including assumed debt. We are placing our 'BB+' rating on Silgan on CreditWatch with negative implications. We are placing all ratings on Graham Packaging on CreditWatch with positive implications. Upon completion of the transaction, and subject to permanent financing, we expect to lower the ratings on Silgan. NEW YORK (Standard & Poor's) April 13, 2011--Standard & Poor's Ratings Services said today its ratings on Stamford, Conn.-based Silgan Holdings Inc. were placed on CreditWatch with negative implications, following Silgan's announcement that it has entered into a definitive merger agreement to acquire...
Companies mentioned in this report are: Silgan Holdings Inc.
Action: On CreditWatch:Negative
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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Silgan Holdings Inc.