Berry Plastics Group, Inc. http://www.alacrastore.com/company-snapshot/Berry_Plastics_Group_Inc-4009225 Wednesday, October 08, 2008 5:04:33 AM 4009225 Berry Plastics Group, Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/660433spcred/660433normThe latest News from S&Pglobal7/18/2008 3:25:16 PM100News660433United StatesUnited StatesGlobal IssuersCorporationsAerospace & DefenseChemicalsNewsNEW YORK (Standard&Poor's) July 18, 2008--Standard&Poor's Ratings Services lowered its ratings on Berry Plastics Group Inc. and its subsidiary Berry Plastics Corp. The corporate credit rating on both companies was lowered to 'B-' from 'B'. The outlook is stable. We also lowered the issue rating on the company's $750 million second-priority senior secured notes due 2014 to 'CCC+' (one notch lower than the corporate credit rating) from 'B' and revised the recovery rating to '5' from '4', indicating our expectation for a modest (10% to 30%) recovery in the event of a payment default. As of March 31, 2008, the Evansville, Ind.-based company had about $4 billion of total adjusted debt outstanding. "The rating action incorporatesUSA08579JBerry Plastics Group Inc.418706USANEWSUSA08579008579108579J15103010 151030 1510 15Berry Plastics Corp.404726USA5719ZGLOBISSCORPAerospaceChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/660434spcred/660434normThe latest Research Update from S&Pglobal7/18/2008 3:25:16 PM175Research Update660434United StatesUnited StatesGlobal IssuersCorporationsAerospace & DefenseChemicalsResearch UpdateOn July 18, 2008, Standard&Poor's Ratings Services lowered its ratings on Berry Plastics Group Inc. and its subsidiary Berry Plastics Corp. The corporate credit rating on both companies was lowered to 'B-' from 'B'. The outlook is stable. We also lowered the issue rating on the company's $750 million second-priority senior secured notes due 2014 to 'CCC+' (one notch lower than the corporate credit rating) from 'B' and revised the recovery rating to '5' from '4', indicating our expectation for a modest (10% to 30%) recovery in the event of a payment default. As of March 31, 2008, the Evansville, Ind.-based company had about $4 billion of total adjusted debt outstanding. The rating action incorporates Berry's weaker-than-expected trendUSA08579JBerry Plastics Group Inc.418706USARESUPDUSA08579008579108579J15103010 151030 1510 15Berry Plastics Corp.404726USA5719ZGLOBISSCORPAerospaceChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/51969bir/51969normBerry Plastics Group Inc.Berry Groves Inc. Berry Plastics Inc.Berry Plastics Corp.Covalence Specialty Materials Corp.Tubed Products Inc.Landis Plastics Inc.United StatesManufacturing: Injection molded aerosol over caps and plastic containers3089326122215EJ5/13/2008 6:19:00 AM51969Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/moodys/PR_148915_820219612moodys/PR_148915_820219612htmlRating Action2/13/2008 12:53:28 AMGlobal Credit Research Rating Action ## FEB #### Rating Action: Berry Plastics Group, Inc. Moody's affirms CFR of Berry Plastics, downgrades certain instrument ratings following announcement of acquisition financing; outlook stable...Berry Plastics Group, Inc.820219612150.0000Newshtml809680176Berry Plastics Holding Corporation809163102Covalence Specialty Materials CorporationBerry Plastics Group, Inc.; Berry Plastics Holding Corporation; ...PR_148915_820219612Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/627901spcred/627901normThe latest News from S&P1/28/2008 3:58:02 PMNews100global627901United StatesUnited StatesGlobal IssuersCorporationsChemicalsNewsNEW YORK (Standard&Poor's) Jan. 28, 2008--Standard&Poor's Ratings Services affirmed its 'BB-' first-lien and 'B' second-lien senior secured debt ratings on Berry Plastics Corp. (formerly known as Berry Plastics Holding Corp.). We removed the first- and second-lien senior secured debt ratings from CreditWatch, where they were placed with negative implications on Jan. 3, 2008, following the company's announced acquisition of Captive Plastics Inc. Pro forma for the debt-financed acquisition, total debt (adjusted to include capitalized operating leases and unfunded postretirement liabilities) was about $3.9 billion at Sept. 29, 2007. "The ratings affirmation reflects our expectation that the issuance of additional debt to fund Berry's acquisition of privately held Captive Holdings Inc., parent of Captive Plastics Inc., willUSA08579JBerry Plastics Group Inc.418706USANEWSUSA08579108579J15103010 151030 1510 15Berry Plastics Corp.404726USA5719ZGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/627902spcred/627902normThe latest Research Update from S&P1/28/2008 3:58:02 PMResearch Update175global627902United StatesUnited StatesGlobal IssuersCorporationsChemicalsResearch UpdateOn Jan. 28, 2008, Standard&Poor's Ratings Services affirmed its 'BB-' first-lien and 'B' second-lien senior secured debt ratings on Berry Plastics Corp. (formerly known as Berry Plastics Holding Corp.). We removed the first- and second-lien senior secured debt ratings from CreditWatch, where they were placed with negative implications on Jan. 3, 2008, following the company's announced acquisition of Captive Plastics Inc. (see list below). Pro forma for the debt-financed acquisition, total debt (adjusted to include capitalized operating leases and unfunded postretirement liabilities) was about $3.9 billion at Sept. 29, 2007. The ratings affirmation reflects our expectation that the issuance of additional debt to fund Berry's acquisition of privately held Captive Holdings Inc., parent of Captive Plastics Inc., willUSA08579JBerry Plastics Group Inc.418706USARESUPDUSA08579J08579115103010 151030 1510 15Berry Plastics Corp.404726USA5719ZGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/623877spcred/623877normThe latest News from S&P1/3/2008 1:04:23 PMNews100global623877United StatesUnited StatesGlobal IssuersCorporationsChemicalsNewsNEW YORK (Standard&Poor's) Jan. 3, 2008--Standard&Poor's Ratings Services placed its first- and second-lien senior secured debt ratings on Berry Plastics Holding Corp. on CreditWatch with negative implications. At the same time, we affirmed our 'B' corporate credit ratings on Berry Plastics Holding Corp. and its parent Berry Plastics Group Inc. (Berry) as well as our 'CCC+' senior unsecured and subordinated debt ratings. The outlooks remain negative. Today's rating actions follow Berry's announcement that it has agreed to acquire privately held Captive Holdings Inc., parent of Captive Plastics Inc., for about $500 million in cash. Captive manufactures blow-molded bottles and injection-molded closures for the food, health care, spirits, and personal care markets at 13 plants across theUSA08579JBerry Plastics Group Inc.418706USANEWSGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/623878spcred/623878normThe latest Research Update from S&P1/3/2008 1:04:23 PMResearch Update175global623878United StatesUnited StatesGlobal IssuersCorporationsChemicalsResearch UpdateOn Jan. 3, 2008, Standard&Poor's Ratings Services placed its first- and second-lien senior secured debt ratings on Berry Plastics Holding Corp. on CreditWatch with negative implications. At the same time, we affirmed our 'B' corporate credit ratings on Berry Plastics Holding Corp. and its parent Berry Plastics Group Inc. (Berry) as well as our 'CCC+' senior unsecured and subordinated debt ratings (see list below). The outlooks remain negative. Today's rating actions follow Berry's announcement that it has agreed to acquire privately held Captive Holdings Inc., parent of Captive Plastics Inc., for about $500 million in cash. Captive manufactures blow-molded bottles and injection-molded closures for the food, health care, spirits, and personal care markets at 13 plants across theUSA08579JBerry Plastics Group Inc.418706USARESUPDUSA08579108579J15103010 151030 1510 15Berry Plastics Holding Corp.404726USA8667ZGLOBISSCORPChemicalsCredit & Investment ResearchS&P Credit Research