S&P shifts Ring Container view to positive

S&P said it revised Ring Container Technologies Group LLC’s outlook to positive from negative and affirmed all its ratings, including the B- senior secured debt rating.

The agency cited Ring Container’s better-than-expected performance in 2020 for the outlook revision.

“The positive outlook reflects our expectation for continued sequential improvement in the company's end markets. We expect continued strong demand for Ring Container's core products (particularly its 35-pound edible oil containers, which account for approximately 50% of consolidated sales), supported by a rebound in foodservice and restaurant sectors, as well as general macroeconomic improvement,” S&P said in a press release.

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