NEW YORK (Standard&Poor's CreditWire) Aug. 5, 1999--Standard&Poor's today placed its double-'B'-minus corporate credit and bank loan ratings, as well as its single-'B' subordinated debt rating, for CCPC Holding Co., Inc. (CCPC) on CreditWatch with negative implications. The double-'B'-minus corporate credit rating and single-'B'-plus senior unsecured debt rating for EKCO Group, Inc. remain on CreditWatch; however, implications are revised to negative from "developing." The rating actions follow CCPC's announcement that it has signed a definitive agreement to acquire EKCO Group for a total consideration of about $300 million, including the assumption of debt. About $440 million of total debt was outstanding at CCPC as of Mar. 31, 1999. EKCO had about $140 million of total debt outstanding
