| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Reynolds Group Holdings Ltd. > News item |
S&P cuts Reynolds
Standard & Poor's said in a corrected news release that it lowered Reynolds Group Holdings Ltd. (B+/negative) subsidiary Beverage Packaging Holdings (Luxembourg) II SA's €480 million of second-priority notes due 2016 to B- from B and revised the recovery rating to 6 from 5.
The ratings reflect the expectation of negligible (0% to 10%) recovery in the event of a payment default, S&P said.
S&P also lowered the ratings on the senior debt of Reynolds Group and its subsidiaries to B- from B and revised the recovery rating to 6 from 5.
The outlook is negative.
The ratings reflect its strong business risk profile as one of the world's premier packaging companies, a highly leveraged financial risk profile and aggressive financial policies, the agency said.
© 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.