...February 26, 2021 NEW YORK (S&P Global Ratings) Feb. 26, 2021--S&P Global Ratings today assigned its '###-' issue-level rating and '2' recovery rating (rounded estimate: 70%) to Berry Global Inc.'s proposed benchmark-size first-priority senior secured notes due 2026. We expect the company to use the proceeds of up to $1 billion from these notes to reduce the outstanding debt on its term loan due October 2022. Our '###-' issue-level rating and '2' recovery rating on Berry's existing first-lien term loans, which it is repricing at a lower rate, remain unchanged. Our '##+' issuer credit rating and stable outlook on Berry Global Group Inc. are also unchanged. Berry is a leading global producer of flexible and rigid plastic packaging products, protective films, specialty nonwoven materials, and adhesives. The company's performance has been solid through 2020 because the COVID-19 pandemic has enhanced the demand for its products with protective properties. Berry's July 2019 acquisition of RPC...
