Crown Holdings, Inc. http://www.alacrastore.com/company-snapshot/Crown_Holdings_Inc-1004495 Sunday, September 07, 2008 7:01:00 PM 1004495 Crown Holdings, Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/72552cs/72552norm Owens-Illinois #Q##: Earnings Beat the Street but Shares Take Pummeling We review OI's #Q## earnings with an emphasis on operating fundamentals, relative value and the company's share price. We review key trends in the company's core...725521545YesD0Article61991863176938corphy1642High Yield7/31/2008 10:05:51 PM150Owens-Illinois (B2/B+) reported second quarter adjusted EBITDA of roughly $499 million up from $408 million in the year-ago quarter and $427 million. However despite 20%+ YOY EBITDA growth, OI's shares took a pummeling.72552Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/394484_report_framefitch/394484_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.Crown Americas LLCCrown Cork & Seal Company IncCrown European HoldingsCrown Holdings, Inc.835494858354949083549503835495647/25/2008 6:31:00 PM0103000001031500425Full Rating ReportCCK394484_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/71972cs/71972norm Relative Value in Industrial Packaging Markets: June #### We review the latest industrial packaging data with an emphasis on the recently implemented $## per ton price hike, as well as the supply outlook. Additionally, we focus on...719722098YesD0Article116313426111378639911769207381001corphy1642High Yield54Euro Markets Issuers150Box shipments in June declined 3.5% on an average week basis, comparing negatively to flat shipment data in May but favorably to April's decline of roughly 7.6%.7/22/2008 2:07:00 AM71972Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71834cs/71834norm Crown Holdings #Q##: Global Exposure Offers Shelter From the Storm We review CCK's impressive #Q## earnings with an emphasis on relative value, event risk, operating fundamentals, financial condition and currency exposure. We examine...718341774YesD0Article61991863381769207corp1668Earnings Reports - Industrials/Consumer7/17/2008 9:06:15 PM150Crown Holdings reported second quarter adjusted EBITDA of roughly $303 million, up from $250 million in the year-ago quarter and well in excess of expectations.71834Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/B1889995ccbn/B1889995norm...Reflecting strong volumes in beverage cans, firm volumes in food along with pass-through of higher cost and selling prices and FX movements. ... 7/17/2008 8:06:00 PMCrown Holdings, Inc.54.0000EditedQ2 2008 Crown Holdings, Inc. Earnings Conference Call SummaryCCK9:00am ETBriefB1889995Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/T1889995ccbn/T1889995norm...Good morning, everyone, and welcome to Crown Holdings' second-quarter #### earnings conference call. Your lines have been placed on a listen-only mode until the question-and-answer session. Please be advised that this conference is being recorded. I would now like to turn the call over to Mr. Alan Rutherford, Executive Vice President and Chief Financial Officer. Mr. Rutherford, you may begin. ... 7/17/2008 11:06:00 AMCrown Holdings, Inc.54.0000FinalQ2 2008 Crown Holdings, Inc. Earnings Conference Call TranscriptCCK9:00am ETTranscriptT1889995Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/newstex/PRN-0005-26713543newstex/PRN-0005-26713543xml PHILADELPHIA, Jul. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- Crown Holdings, Inc. (NYSE: CCK) today announced its financial results for the second quarter ended June ##, ####. Second Quarter Highlights -- Net Sales...0400000004016000040160180401604804016001040160030400700004007008040090000400900204002000040020077/16/2008 6:15:48 PM18000000180040001800800018010000190000001900200019002007PR Newswire USPRN-0005-26713543CROWN HOLDINGS INCJOHN W CONWAYTIMOTHY J DONAHUECCKNewsNewstexhttp://www.alacrastore.com/storecontent/ccbn/T1809429ccbn/T1809429norm...Good morning and welcome to the Crown Holdings first quarter #### earnings conference call. Your line has been placed on listen-only mode until the question-and-answer session. Please be advised this conference is being recorded. I would now like to turn the call over to Mr. Alan Rutherford, Vice President and Chief Financial Officer. Mr. Rutherford, you may begin. ... 7/16/2008 4:55:30 PMCrown Holdings, Inc54.0000Q1 2008 CROWN HOLDINGS INC Earnings Conference CallCCK9:00AM ETTranscriptT1809429Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/B1809429ccbn/B1809429norm...Segment income of $###m grew ##% over #Q##, due to improved margins in most segments of the business.... 7/16/2008 4:55:25 PMCrown Holdings, Inc.54.0000Q1 2008 CROWN HOLDINGS INC Earnings Conference CallCCK9:00AM ETBriefB1809429Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/cs/71700cs/71700norm #H## North America Packaging Sector Relative Value Outlook: Pack it Up or Pack it In? We provide a #H## relative value outlook for credits in our North America Packaging coverage universe which includes industrial, consumer and non-paper...717004631YesD0Article116313426111378639911001207176959164838corphy1621Sector Outlooks42High Yield7/16/2008 10:04:49 AM150In advance of 2Q08 earnings and with an eye towards credit trends in 2H08, we provide a relative value update for companies in our North America Packaging Universe.71700Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/392722_report_framefitch/392722_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.Celestica Inc.Smurfit-Stone Container CorporationIndyMac Bancorp, Inc.American Axle & Manufacturing Holdings, Inc.Limited Brands, Inc.Cablevision Systems CorporationHayes Lemmerz International, Inc.SunGard Data Systems Inc.Enterprise GP Holdings LPTenneco IncCrown Holdings, Inc.858816968542187380089443809854998264267580361460800894538041717980359549821574678354948581657875822198337/11/2008 6:30:00 PM0103120101030000010102020101020001010100010303000102000001031500010313020103120001031300010000000103050001030400275NewsletterCLSHAYZCCKAXLCVCEPEIDMCLTDSSCCTEN392722_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/425330_pr_framefitch/425330_pr_framehtmlFitch 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.Crown Americas LLCCrown Cork & Seal Company IncCrown Holdings, Inc.8354948583549490835495037/3/2008 10:17:00 AM010300000103150085Press ReleaseCCK425330_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/newstex/PRN-0005-26373125newstex/PRN-0005-26373125xml PHILADELPHIA, Jul. #, #### (PRNewswire-FirstCall delivered by Newstex) -- Crown Holdings, Inc. (NYSE: CCK) will release its earnings for the second quarter ended June ##, #### after the close of trading on the New York Stock Exchange...040000000401600004016018040160487/1/2008 4:07:11 PM180000001800400018008000PR Newswire USPRN-0005-26373125CROWN HOLDINGS INCCCKNewsNewstexhttp://www.alacrastore.com/storecontent/cs/70099cs/70099norm Crown Holdings #Q## Tearsheet Although we hold a favorable view of the company's operating fundamentals, particularly in light of global exposure and recent capital expenditure, shareholder enhancement is of concern.Should the equity...70099455YesC21Tearsheet1769tearsheets/premium166/4/2008 4:05:11 PM15070099Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/T1840402ccbn/T1840402norm... - Banc of America Securities - Analyst-- happy you're back for day two of our Basics and Industrials Conference, and here for the ##th year at our conference is Crown Holdings, and speaking for the company today will be Senior Vice President of Finance, Tim Donahue. Now before we begin, as you know, we are required to make a number of conflict of interest and related disclosures in connection with our participation at this conference. If you'd like to review these important disclosures, they're at the back of the room, and for those of you on the web, they're available there as well. As we all know, Tim has been Senior Vice President of Finance for the company since ####. He joined Crown as Manager of Corporate Accounting in #### and has been Corporate Controller since #### as well, and Senior Vice President since '##. He's also a big Phillies fan. We won't hold that against him. Tim, take it away. ... 5/8/2008 2:08:00 PMCROWN HOLDINGS INC54.0000FinalCROWN HOLDINGS INC at Banc of America Securities BASics/Industrials Conference TranscriptCCK8:40am ETTranscriptT1840402Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/cs/68896cs/68896norm Owens-Illinois & Crown Holdings #Q##: Relative Value Comparison We discuss #Q## earnings for Owens-Illinois and Crown Holdings in the context of global packaging trends, event risk and the outlook for ####. We also compare both companies'...688962889YesD0Article991611769corphy1642High Yield68Earnings Reports - Industrials/Consumer5/6/2008 11:06:29 PM150Owens-Illinois and Crown Holdings both reported first-quarter earnings in excess of analyst expectations, however OI's operating performance continues to outpace CCK's. We review 1Q08 results for both credits, focusing on relative value.68896Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/59474cs/59474norm Initiating Coverage on Owens-Illinois: Should Capital Structure Considerations Trump Transformation? We launch coverage on Owens-Illinois with an emphasis on the company's multi-faceted capital structure and ongoing transformation plan....500We initiate coverage on Owens-Illinois in the context of the company's successful transformation plan and with an eye towards the future of its capital structure.Covenants42High Yield5/6/2008 9:06:00 PM59474335068YesD9Spotlight611769corphy11673Spotlight ReportsCapital Structure9059474Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/67825cs/67825norm Crown Holdings #Q## Tearsheet Although we hold a favorable view of the company's operating fundamentals, particularly in light of global exposure and recent capital expenditure shareholder enhancement is of concern. Should the equity...67825487YesC21Tearsheet1769tearsheets/premium164/22/2008 10:05:31 PM15067825Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/68060cs/68060norm Pension Risk in the Paper, Packaging, and Commercial Printing Coverage Universe We assess the pension and OPEB risk facing companies under coverage relative to earnings and market capitalization. We discuss discount rate assumptions...corp/reports23Pensions4/22/2008 12:04:00 AM150While 2007 was a moderately positive year in terms of pension shortfalls in our coverage universe, 2008 does not promise to be the same.3011YesD0Article6113423810011727113741116386311691571176920216481181hy6806022511642High Yield54Euro Markets Issuers68060Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/380502_report_framefitch/380502_report_framexlsCrown Holdings, Inc.835494853/28/2008 2:14:52 PM0103000001031500165Recovery AnalysisCCK380502_report_frameCredit & Investment ResearchFitch Research