U.S.-based Berry Plastics Corp. plans to issue a $1.03 billion incremental first-lien term loan due 2020 for refinancing purposes. We affirmed our 'B' corporate credit rating on Berry as well as the issue-level ratings on Berry's existing debt. At the same time we assigned a 'B+' issue rating, with a '2' recovery rating, to the proposed $1.03 billion incremental first-lien term loan. The stable outlook reflects our expectation of favorable operating trends that should enable Berry to preserve a financial profile consistent with the current ratings. NEW YORK (Standard&Poor's) Jan. 29, 2013--Standard&Poor's Ratings Services today said it affirmed all of its existing ratings, including the 'B' corporate credit rating, on Evansville, Ind.-based plastic packaging producer Berry
