Moody“s Investors Service the US credit rating agency lowered the rating of Consumers Packaging Inc.“s C$ 75 million 9.75% senior unsecured notes, due 2005, to Caa2 from Caa1. Simultaneously, Moody`…
Moody“s Investors Service the US credit rating agency lowered the rating of Consumers Packaging Inc.“s C$ 75 million 9.75% senior unsecured notes, due 2005, to Caa2 from Caa1. Simultaneously, Moody“s put all ratings under review for possible downgrade which includes the B3 rating assigned to the Consumers International C$ 170 million 10.25% senior secured notes, due 2005, and the B3 rating assigned to the C$ 115 million revolving credit facility. Consumers Packaging Incorporated is a leading Canadian manufacturer of glass containers. Approximately C$ 432 Million of its debt securities will be affected.