S&P rates Ardagh Glass notes B

Standard & Poor's said it assigned a B rating to the proposed $180 million senior unsecured notes due 2020 to be issued by Ardagh Glass Finance plc, a finance subsidiary of Ardagh Glass Group plc (B+/stable). The recovery rating is 5.

The agency raised the 7 1/8% $310 million senior unsecured notes due 2017 issued by Ardagh Glass Finance and the rating on the 8 7/8% $175 million callable bonds due 2013 issued by Ardagh Glass BV to B from B- with recovery ratings revised to 5 from 6.

Proceeds will be used to refinance the $175 million callable bonds due 2013 issued by Ardagh Glass BV.

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