NEW YORK (Standard&Poor's) Feb. 2, 2009--Standard&Poor's Ratings Services said today that it lowered its ratings on Appleton Papers Inc., including its corporate credit rating lowered to 'B' from 'BB-'. All ratings, including the issue-level ratings, remain on CreditWatch with negative implications, where they were initially placed on Dec. 5, 2008. "The downgrade stems from our concerns about Appleton's weakening credit measures during a difficult operating environment, its likely tightened liquidity position, and its ability to remain in compliance with its financial covenants over the next several quarters," said Standard&Poor's credit analyst Andy Sookram. "We expect the operating environment will remain challenging through 2009 as consumers continue to rein in discretionary spending in the face
