Berry Global Inc.'s Proposed €725 Million Senior Secured Notes Rated 'BBB-' - S&P Global Ratings’ Credit Research

Berry Global Inc.'s Proposed €725 Million Senior Secured Notes Rated 'BBB-'

Berry Global Inc.'s Proposed €725 Million Senior Secured Notes Rated 'BBB-' - S&P Global Ratings’ Credit Research
Berry Global Inc.'s Proposed €725 Million Senior Secured Notes Rated 'BBB-'
Published Dec 09, 2019
2 pages (1147 words) — Published Dec 09, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Dec. 9, 2019--S&P Global Ratings today assigned its 'BBB-' issue-level rating and '2' recovery rating (rounded estimate: 70%) to Berry Global Inc.'s proposed €725 million first-priority senior secured notes. The notes are expected to be split between a 2025 maturity and a 2027 maturity, with proceeds used to pay down a portion of Berry's term loans U and V. All of our other ratings on Berry, including our 'BB+' issuer credit rating, are unchanged. For a more detailed analysis, refer to our most recent research update on Berry, published May 7, 2019. General Criteria: Group Rating Methodology, July 1, 2019 Criteria Corporates General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 Criteria

  
Brief Excerpt:

...December 9, 2019 NEW YORK (S&P Global Ratings) Dec. 9, 2019--S&P Global Ratings today assigned its '###-' issue-level rating and '2' recovery rating (rounded estimate: 70%) to Berry Global Inc.'s proposed 725 million first-priority senior secured notes. The notes are expected to be split between a 2025 maturity and a 2027 maturity, with proceeds used to pay down a portion of Berry's term loans U and V. All of our other ratings on Berry, including our '##+' issuer credit rating, are unchanged. For a more detailed analysis, refer to our most recent research update on Berry, published May 7, 2019....

  
Report Type:

Ratings Action

Ticker
5719Z
Issuer
Berry Global Inc.
GICS
Metal & Glass Containers (15103010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Berry Global Inc.'s Proposed €725 Million Senior Secured Notes Rated 'BBB-'" Dec 09, 2019. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Berry-Global-Inc-s-Proposed-725-Million-Senior-Secured-Notes-Rated-BBB-2355150>
  
APA:
S&P Global Ratings’ Credit Research. (). Berry Global Inc.'s Proposed €725 Million Senior Secured Notes Rated 'BBB-' Dec 09, 2019. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Berry-Global-Inc-s-Proposed-725-Million-Senior-Secured-Notes-Rated-BBB-2355150>
  
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