FRANKFURT (Standard&Poor's) Oct. 15, 2009--Standard&Poor's Ratings Services said today its ratings and outlook on Switzerland-based aseptic-carton packaging supplier SIG Combibloc Group AG (SIG), its owner, financial holding Beverage Packaging Holdings (Luxembourg) I S.A., and related financial holding Beverage Packaging Holdings (Luxembourg) II S.A. (collectively: "the group"; all three entities rated B+/Stable/--) are not affected by the group's announcement that it intends to acquire two U.S.-based packaging companies--Closure Systems International and Reynolds Consumer Products--for about $3 billion in a majority debt-funded transaction. We will review our recovery and issue ratings on the existing debt shortly. In our opinion, the acquisitions would enhance SIG's market position and diversity as a global integrated beverage packaging provider with combined annual
