NEW YORK (Standard&Poor's) October 7, 2002—Standard&Poor's Ratings Services said today that it placed its single-'B'-minus corporate credit rating on Consolidated Container Company LLC and its wholly owned subsidiary, Consolidated Container Capital Inc., on CreditWatch with negative implications. Atlanta, Ga.-based Consolidated is a domestic producer of rigid plastic containers. Total outstanding debt at June 30, 2002, was about $573 million. "The CreditWatch listing reflects heightened concerns regarding the company's liquidity position (including tightening financial covenants and increasing debt maturities) in light of its ongoing operating challenges and more stringent credit standards," said Standard&Poor's credit analyst Liley Mehta. Since the third quarter of 2001, Consolidated has faced severe operating challenges at its various plants, particularly in
