BULLETIN: Silgan Holdings Inc. Reports 2001 Earnings in Line With Expectations Jan 02
- ID: 2088764
- January 2002
- Standard & Poors
Standard & Poor's said today that Silgan Holdings Inc.'s (BB-/Stable/--) announcement of 2001 earnings growth (excluding nonrecurring items) and debt reduction are in line with expectations and fully reflected within the current rating and outlook. The earnings growth was largely due to the acquisition of RXI Plastics, however, partially offset by somewhat higher operating costs in the metal food can business. Although Standard & Poor's expects Silgan to gradually benefit from improved pricing in metal food cans, recessionary conditions are likely to slow near-term sales growth of plastic containers for personal care products. In addition, Silgan is expected to use free cash flows for growth initiatives or debt reduction, while maintaining its credit profile....
Companies mentioned in this report are: Silgan Holdings Inc.
Action: S&P Event
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.