Leveraged Finance Weekly

...Fitch Ratings affirmed Ball's issuer default rating (IDR) and debt ratings as follows: IDR at `BB'; senior secured revolving credit facility at `BB+'; senior secured term bank debt at `BB+'; senior unsecured notes at `BB'. Approximately $2.5 billion of debt is covered by the ratings. The Rating Outlook is Stable. The rating affirmations and Stable Outlook incorporate Ball's solid cash flow generation, stable credit metrics, leading market positions in its product categories and current expectations in the packaging end markets. In addition, Ball has been aggressive in reducing overcapacity and higher fixed costs by closing or announcing the closing of eight manufacturing facilities in North America. Annualized cost reductions from the facility closings are expected to exceed $80 million over time. The costs associated with the facilities closings are not expected to be significant and should not materially affect operating results. Capacity reductions are primarily due to greater plant...

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