S&P: Anchor Glass on watch

Standard & Poor's said it placed its B+ corporate credit and senior secured debt ratings on Anchor Glass Container Corp. on CreditWatch negative.

S&P said the CreditWatch placement incorporates concerns regarding the company's limited liquidity given elevated natural gas prices, lower-than-expected sales volume trends and the company's disappointing operating and financial performance trend in 2004.

The CreditWatch negative reflects S&P's heightened concerns about the company's ability to preserve sufficient liquidity, particularly with higher working capital requirements in the first quarter of 2005.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.