NEW YORK (Standard&Poor's) May 5, 2004-- Standard&Poor's Ratings Services said today that it assigned its 'B-' rating and a recovery rating of '2' to Consolidated Container Co. LLC's proposed $245 million senior secured credit facilities due 2008, subject to preliminary terms and conditions. The 'B-' rating is the same as the corporate credit rating; this and the '2' recovery rating indicate an expectation of substantial (80%-100%) recovery of principal in the event of a default. Standard&Poor's also assigned its 'CCC' rating and a '5' recovery rating to the proposed $170 million senior secured second lien notes due 2009, which are to be issued under Rule 144A with registration rights by Consolidated Container Co. LLC
