Chesapeake Corporation http://www.alacrastore.com/company-snapshot/Chesapeake_Corporation-1003470 Sunday, November 23, 2008 2:08:59 PM 1003470 Chesapeake Corporation en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/684786spcred/684786normThe latest News from S&Pglobalstructured11/20/2008 6:44:00 PM100News684786United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsNewsNEW YORK (Standard&Poor's) Nov. 20, 2008--Standard&Poor's Ratings Services today lowered its corporate credit rating on Richmond, Va.-based Chesapeake Corp. to 'SD' from 'CCC-', which indicates a selective default. At the same time, we lowered our issue-level rating on Chesapeake's 10.375% sterling-denominated subordinated notes due 2011 to 'D' from 'CC'. We also affirmed the rating on the euro-denominated subordinated notes at 'CC'. "The ratings actions stem from our assessment that the Nov. 15, 2008, coupon payment date on the sterling-denominated notes was likely blocked from being paid by the secured lenders under Chesapeake's $250 million revolving credit facility because of the company's distressed financial situation, which was caused by weak cash flows and high leverage," said StandardUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKNEWSGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/684787spcred/684787normThe latest Research Update from S&Pglobalstructured11/20/2008 6:44:00 PM175Research Update684787United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsResearch UpdateOn Nov. 20, 2008, Standard&Poor's Ratings Services lowered its corporate credit rating on Richmond, Va.-based Chesapeake Corp. to 'SD' from 'CCC-', which indicates a selective default. At the same time, we lowered our issue-level rating on Chesapeake's 10.375% sterling-denominated subordinated notes due 2011 to 'D' from 'CC'. We also affirmed the rating on the euro-denominated subordinated notes at 'CC'. The ratings actions stem from our assessment that the Nov. 15, 2008, coupon payment date on the sterling-denominated notes was likely blocked from being paid by the secured lenders under Chesapeake's $250 million revolving credit facility because of the company's distressed financial situation, which was caused by weak cash flows and high leverage. While a payment default has notUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKRESUPDGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/681053spcred/681053normThe latest News from S&Pglobalstructured11/5/2008 12:10:05 PM100News681053United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsNewsNEW YORK (Standard&Poor's) Nov. 4, 2008--Standard&Poor's Ratings Services today lowered its corporate credit rating on Richmond, Va.-based Chesapeake Corp. to 'CCC-' from 'CCC+'. We also lowered our issue-level rating on the company's senior subordinated debt to 'CC' from 'CCC-'. The recovery rating on the subordinated debt remains at '6'. These ratings indicate our expectation for negligible (0% to 10%) recovery in the event of a payment default. All ratings were removed from CreditWatch, where they were initially placed with negative implications on July 2, 2008. The outlook is negative. "The downgrade follows the company's announcement that it has entered into a forbearance agreement with its lenders under the $250 million senior secured revolving credit facility," saidUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKNEWSGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/681054spcred/681054normThe latest Research Update from S&Pglobalstructured11/5/2008 12:10:05 PM175Research Update681054United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsResearch UpdateOn Nov. 4, 2008, Standard&Poor's Ratings Services lowered its corporate credit rating on Richmond, Va.-based Chesapeake Corp. to 'CCC-' from 'CCC+'. We also lowered our issue-level rating on the company's senior subordinated debt to 'CC' from 'CCC-'. The recovery rating on the subordinated debt remains at '6'. These ratings indicate our expectation for negligible (0% to 10%) recovery in the event of a payment default. All ratings were removed from CreditWatch, where they were initially placed with negative implications on July 2, 2008. The outlook is negative. The downgrade follows the company's announcement that it has entered into a forbearance agreement with its lenders under the $250 million senior secured revolving credit facility. The secured lenders have agreedUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKRESUPDGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/412070_report_framefitch/412070_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Citgo Petroleum CorporationSeacor Holding, Inc.Tesoro CorporationSunoco Inc.Devon Energy CorporationChesapeake CorporationMarathon Oil CorporationHess CorpTransocean Inc.Pride International, Inc.Valero Energy CorporationNabors Industries IncAnadarko Petroleum CorporationPioneer Natural Resources CompanyNewfield Exploration CompanyNoble Drilling (Nederland) B.V.8009176380092352800913518009009882056460800911808045197880091465839693078714357080090099807029798009076280090697800917538008930810/30/2008 2:14:00 PM0103000001031000070500000401030101040000275Special ReportDVNMROCSKEHESTSONFXRIGPXDCKHAPCVLOSUNPDE412070_report_frameCredit & Investment ResearchFitch ResearchUS - Carl Edelmann GmbH & Co KG raised its stake to ##.#% from #.##% in Chesapeake Corp, a manufacturer of packaging products, by acquiring #.### mil common shares, for $#.## per share, or a total value of $#.## mil, in a privately negotiated transaction.9/25/2008 3:24:51 PM27943L16515927943L165159Carl Edelmann GmbH & Co KGChesapeake CorpCarl Edelmann GmbH & Co KGChesapeake Corphttp://www.alacrastore.com/storecontent/Thomson_M%26A/Carl_Edelmann_GmbH_Co_KG_acquires_a_minority_stake_in_Chesapeake_Corp-2014644020sdc/20146440202014644020Copyright © 2008, Thomson Financial, All Rights ReservedPaper and Allied ProductsGermanyFolding paperboard boxes, including sanitary2657FFForeignPrivate2657:Folding paperboard boxes, including sanitary2752:Commercial printing, lithographic2657:Folding paperboard boxes, including sanitary2752:Commercial printing, lithographicNew YorkPaper and Allied ProductsUnited StatesFolding paperboard boxes, including sanitary2657VAVirginiaPublicCSK204600001Mnfr,whl folding cartonMnfr pkg prodCashCash OnlyCommon Stock1192001Sep 25 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.00000Carl Edelmann GmbH & Co KG,located in Heidenheim,Germany, manufactures andwholesales folding cartons.The company also providescommercial printing services.Carl Edelmann GmbH & Co KG, located in Heidenheim, Germany,manufactures and wholesales folding cartons. The companyalso provides commercial printing services.Carl Edelmann GmbH & Co KG, located in Heidenheim, Germany, manufactures and wholesales folding cartons. The company also provides commercial printing services.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.00000Chesapeake Corp, located inRichmond, Virginia,manufactures packagingproducts worldwide. Thecompany offers foldingcartons, booklets, leaflets,labels, composite tubes, rigidset-up boxes, vacuum-formedpackaging, high-densitypolyethylene bottles,closures, containers andperforms. It was founded inOctober 25, 1918.Chesapeake Corp, located in Richmond, Virginia, manufacturespackaging products worldwide. The company offers foldingcartons, booklets, leaflets, labels, composite tubes, rigidset-up boxes, vacuum-formed packaging, high-densitypolyethylene bottles, closures, containers and performs. Itwas founded in October 25, 1918.Chesapeake Corp, located in Richmond, Virginia, manufactures packaging products worldwide. The company offers folding cartons, booklets, leaflets, labels, composite tubes, rigid set-up boxes, vacuum-formed packaging, high-density polyethylene bottles, closures, containers and performs. It was founded in October 25, 1918.0.000000.000000.0000020.56000YU.S. Dollar19 Sep 08Fri, 19 Sep 2008 00:00:00 ESTDate Announced: 09/19/200819 Sep 08Date Effective: 09/19/200819 Sep 08Acq. Part. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.000001.75 U.S. Dollar1.750000.000001.75 U.S. Dollar1.750005.8710013.501000.000000.000001.750001.75 U.S. Dollar1.00000N0.948000.000000.000000.000000.000000.000001.750001.750000.000000.000000.000000.000000.000000.000007.630005.871000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.00000US - Carl Edelmann GmbH & CoKG raised its stake to 13.5%from 7.63% in Chesapeake Corp,a manufacturer of packagingproducts, by acquiring 1.207mil common shares, for $1.45per share, or a total value of$1.75 mil, in a privatelynegotiated transaction.US - Carl Edelmann GmbH & Co KG raised its stake to 13.5% from 7.63% in Chesapeake Corp, a manufacturer of packaging products, by acquiring 1.207 mil common shares, for $1.45 per share, or a total value of $1.75 mil, in a privately negotiated transaction.US - Carl Edelmann GmbH & Co KG raised its stake to 13.5% from 7.63% in Chesapeake Corp, amanufacturer of packaging products, by acquiring 1.207 mil common shares, for $1.45 pershare, or a total value of $1.75 mil, in a privately negotiated transaction.US - Carl Edelmann GmbH & Co KG raised its stake to 13.5% from 7.63% in Chesapeake Corp, a manufacturer of packaging products, by acquiring 1.207 mil common shares, for $1.45 per share, or a totalvalue of $1.75 mil, in a privately negotiated transaction.US - Carl Edelmann GmbH & Co KG raised its stake to 13.5% from 7.63% in Chesapeake Corp, a manufacturer of packaging products, byacquiring 1.207 mil common shares, for $1.45 per share, or a total value of $1.75 mil, in a privately negotiated transaction.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000002621:Paper mills2631:Paperboard mills2652:Setup paperboard boxes2653:Corrugated and solid fiber boxes2655:Fiber cans, tubes, drums, and similar products2657:Folding paperboard boxes, including sanitary2676:Sanitary paper products2679:Converted paper and paperboard products, nec2821:Plastics materials and synthetic resins3085:Plastics bottles3089:Plastics products, nec5113:Industrial and personal service paper204600001Germany2657ForeignPrivate2621:Paper mills2631:Paperboard mills2652:Setup paperboard boxes2653:Corrugated and solid fiber boxes2655:Fiber cans, tubes, drums, and similar products2657:Folding paperboard boxes, including sanitary2676:Sanitary paper products2679:Converted paper and paperboard products, nec2821:Plastics materials and synthetic resins3085:Plastics bottles3089:Plastics products, nec5113:Industrial and personal service paper1192001New YorkUnited States2657VirginiaPublicCSK1.750001.750001.750000.94800Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/664199spcred/664199normThe latest Research Update from S&Pglobalstructured8/8/2008 3:36:24 PM175Research Update664199United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsResearch UpdateOn Aug. 8, 2008, Standard&Poor's Ratings Services lowered its ratings on Richmond, Va.-based Chesapeake Corp. The corporate credit rating was lowered to 'CCC+' from 'B'. The ratings remain on CreditWatch, where they were placed on July 2, 2008, with negative implications. The downgrade reflects our heightened concern regarding Chesapeake's viability as a going concern as disclosed in its recent quarterly financial filing. Ongoing earnings pressures have led to the high likelihood of further covenant violations, which if not waived or amended could lead to a default under the credit agreement and a cross-default with other outstanding debt. As a result, the company will need to either seek continued covenant relief or successfully execute on its previously announced refinancingUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKRESUPDGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/664198spcred/664198normThe latest News from S&Pglobalstructured8/8/2008 3:36:00 PM100News664198United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsNewsNEW YORK (Standard&Poor's) Aug. 8, 2008--Standard&Poor's Ratings Services said today that it lowered its ratings on Richmond, Va.-based Chesapeake Corp. The corporate credit rating was lowered to 'CCC+' from 'B'. The ratings remain on CreditWatch, where they were placed on July 2, 2008, with negative implications. The downgrade reflects our heightened concern regarding Chesapeake's viability as a going concern as disclosed in its recent quarterly financial filing. "Ongoing earnings pressures have led to the high likelihood of further covenant violations, which if not waived or amended could lead to a default under the credit agreement and a cross-default with other outstanding debt," credit analyst Andy Sookram said. As a result, the company will need to eitherUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKNEWSGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_160755_169500moodys/PR_160755_169500htmlGlobal Credit Research Rating Action # AUG #### Rating Action: Chesapeake Corporation Moody's downgrades Chesapeake Corp's CFR to Caa#; ratings remain on review Approximately $### million in rated debt affected New York, August ##,...8/8/2008 12:42:18 AMhtmlChesapeake CorporationChesapeake Corporation169500150.0000NewsRating ActionPR_160755_169500Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/662946spcred/662946normThe latest News from S&Pglobalstructured8/1/2008 1:07:41 PM100News662946United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsNewsNEW YORK (Standard&Poor's) Aug. 1, 2008--Standard&Poor's Ratings Services said today its ratings on packaging company Chesapeake Corp. remain on CreditWatch with negative implications, where they were initially placed on July 2, 2008. The CreditWatch listing followed weaker-than-expected operating performance over the past several quarters, potential near-term bank facility covenant violations, and the need to refinance its $250 million revolving credit facility due in February 2009. This CreditWatch update follows the company's announcement of a comprehensive refinancing plan to address its potential near-term covenant violation, the upcoming maturity of its bank credit facility, and general liquidity needs. The company expects the plan to include a new $250 million senior secured credit facility and an offer to exchangeUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKNEWSGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/662947spcred/662947normThe latest Research Update from S&Pglobalstructured8/1/2008 1:07:00 PM175Research Update662947United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceAsset-Backed SecuritiesCorporationsForest ProductsResearch UpdateOn Aug. 1, 2008, Standard&Poor's Ratings Services said its ratings on packaging company Chesapeake Corp. remain on CreditWatch with negative implications, where they were initially placed on July 2, 2008. The CreditWatch listing followed weaker-than-expected operating performance over the past several quarters, potential near-term bank facility covenant violations, and the need to refinance its $250 million revolving credit facility due in February 2009. This CreditWatch update follows the company's announcement of a comprehensive refinancing plan to address its potential near-term covenant violation, the upcoming maturity of its bank credit facility, and general liquidity needs. The company expects the plan to include a new $250 million senior secured credit facility and an offer to exchange the company's existing seniorUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKRESUPDGLOBISSSTRUCABSCORPForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1911972ccbn/T1911972norm...Good day and welcome everyone to the Chesapeake Corporation's second-quarter #### earnings conference call. Today's call is being recorded. At this time, I would like to turn the call over to the Executive Vice President and Chief Financial Officer, Mr. Joel Mostrom. Please go ahead, sir. ... 8/1/2008 12:06:00 PMChesapeake54.0000FinalChesapeake Q2 2008 Earnings Conference Call TranscriptCSK11:00am ETTranscriptT1911972Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/658910spcred/658910normThe latest Full Report from S&Pglobalstructured7/10/2008 1:02:54 PM400Full Report658910United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsFull ReportSome ability to pass through raw-material cost increases; and Diverse end markets and operations. Thin discretionary cash flow; Aggressive debt leverage; Industry overcapacity; and Competitive pricing pressures. The rating on Chesapeake Corp. remains on CreditWatch with negative implications, where it was placed on July 2, 2008. The CreditWatch listing reflects EBITDA declines during the past several quarters and Standard&Poor's Ratings Services' expectations that challenging market conditions could further weaken the company's ability to achieve targeted earnings during the next few quarters, which could pressure the company's ability to comply with financial covenants under its credit agreement. In addition, the company's plan to refinance its $250 million revolving credit facility due February 2009 has been delayed because of certainUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKFULLGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/658911spcred/658911normThe latest Summary from S&Pstructuredglobal7/10/2008 1:02:00 PM175Summary658911United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsSummaryThe rating on Chesapeake Corp. remains on CreditWatch with negative implications, where it was placed on July 2, 2008. The CreditWatch listing reflects EBITDA declines during the past several quarters and Standard&Poor's Ratings Services' expectations that challenging market conditions could further weaken the company's ability to achieve targeted earnings during the next few quarters, which could pressure the company's ability to comply with financial covenants under its credit agreement. In addition, the company's plan to refinance its $250 million revolving credit facility due February 2009 has been delayed because of certain issues relating to the Fox River environmental matter, which has created refinancing risk. The company's credit agreement stipulates a leverage ratio of 6.25x for the quarter endedUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKSUMMARYGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/657737spcred/657737normThe latest News from S&Pglobalstructured7/2/2008 6:24:00 PM100News657737United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsNewsNEW YORK (Standard&Poor's) July 2, 2008--Standard&Poor's Ratings Services today lowered its ratings on Chesapeake Corp. and placed these ratings on CreditWatch with negative implications. The corporate credit rating was lowered to 'B' from 'B+'. "The downgrade and CreditWatch listing reflect EBITDA declines during the past several quarters and our expectations that challenging market conditions could further weaken the company's ability to achieve targeted earnings during the next few quarters, which could pressure the company's ability to comply with financial covenants under its credit agreement," said Standard&Poor's credit analyst Andy Sookram. In addition, the company's plan to refinance its $250 million revolving credit facility due February 2009 has been delayed because of certain issues relatingUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKNEWSGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/657738spcred/657738normThe latest Research Update from S&Pglobalstructured7/2/2008 6:24:00 PM175Research Update657738United StatesPaper PackagingUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesForest ProductsResearch UpdateOn July 2, 2008, Standard&Poor's Ratings Services lowered its ratings on Chesapeake Corp. and placed these ratings on CreditWatch with negative implications. The corporate credit rating was lowered to 'B' from 'B+'. The downgrade and CreditWatch listing reflect EBITDA declines during the past several quarters and our expectations that challenging market conditions could further weaken the company's ability to achieve targeted earnings during the next few quarters, which could pressure the company's ability to comply with financial covenants under its credit agreement. In addition, the company's plan to refinance its $250 million revolving credit facility due February 2009 has been delayed because of certain issues relating to the Fox River environmental matter, which has created refinancing risk. TheUSA16515915103020 151030 1510 15Chesapeake Corp.100453USACSKRESUPDGLOBISSSTRUCCORPABSForestCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_158310_169500moodys/PR_158310_169500htmlGlobal Credit Research Rating Action ## JUN #### Rating Action: Chesapeake Corporation Moody's places Chesapeake Corp's ratings on review for possible downgrade Approximately $### million in rated debt affected New York, June ##, ####...7/1/2008 1:38:56 AMhtmlChesapeake CorporationChesapeake Corporation169500150.0000NewsRating ActionPR_158310_169500Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1840286ccbn/T1840286norm...Please stand by. Good day and welcome, everyone, to this Chesapeake Corporation First Quarter #### Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to the Executive Vice President and Chief Financial Officer, Mr. Joel Mostrom. Please go ahead, sir. ... 5/7/2008 5:06:00 PMChesapeake54.0000FinalQ1 2008 Chesapeake Earnings Conference Call TranscriptCSK11:00am ETTranscriptT1840286Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/moodys/PR_152432_169500moodys/PR_152432_169500htmlGlobal Credit Research Rating Action # APR #### Rating Action: Chesapeake Corporation Moody's downgrades Chesapeake Corp. CFR to B#; outlook negative Approximately $### million in rated debt affected New York, April ##, #### -- Moody's...Rating Action4/8/2008 12:44:00 AMChesapeake Corporation169500150.0000NewshtmlChesapeake CorporationPR_152432_169500Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_169500moodys/COP_169500htmlGlobal Credit Research Credit Opinion # APR #### Credit Opinion: Chesapeake Corporation Chesapeake Corporation Richmond, Virginia, United States Ratings Category Moody's Rating Outlook Negative Corporate Family Rating B# Senior Subordinate...Credit Opinion4/7/2008 8:13:51 PMChesapeake Corporation169500150.0000NewshtmlChesapeake CorporationCOP_169500Credit & Investment ResearchMoody's Global Credit Research