-- Packaging producer Consolidated Container operates in relatively stable end markets and is implementing cost-cutting initiatives. -- Its high leverage, competitive industry, and high customer concentration remain concerns. -- We are lowering the issue rating and revising the recovery rating on the first-lien term loan to reflect adjustments to our default assumptions. -- The stable outlook on the rating reflects our expectation of decent cash flow generation and the preservation of sufficient liquidity. NEW YORK (Standard&Poor's) May 1, 2009--Standard&Poor's said today that it revised the recovery rating on Consolidated Container Co. LLC's $390 million first-lien senior secured term loan to '3' from '2'. We lowered the issue rating to 'B-' from 'B'. The ratings indicate our
