NEW YORK (Standard&Poor's) April 15, 2008--Standard&Poor's Ratings Services said today that it assigned a 'BB-' and '1' recovery rating to Berry Plastics Corp.'s $530.6 million first-priority floating-rate senior secured notes due 2015. The 'BB-' and '1' recovery rating indicate the expectation of very high (90%-100%) recovery in the event of a payment default. Proceeds from the proposed notes will be used to refinance the company's existing $520 million first-lien bridge loan, which was issued to fund the acquisition of Captive Plastics Inc. in February 2008. We affirmed all the ratings on Berry, including the 'B' corporate credit rating. The outlook is negative. At Dec. 29, 2007, Evansville, Indiana-based Berry had total debt (adjusted to include capitalized
