NEW YORK (Standard&Poor's) Jan. 29, 2003--Standard&Poor's Ratings Services said today that it has placed its ratings, including its 'B-' corporate credit rating, on global packaging manufacturer Crown Cork&Seal Co. Inc. on CreditWatch with positive implications following the company's recently announced refinancing plan. Philadelphia, Pa.-based Crown Cork&Seal has announced that it plans to initiate a refinancing plan that will improve its constrained liquidity position and relieve pressures related to its onerous debt maturity schedule. "The refinancing plan, if completed as proposed, will substantially improve the company's financial profile, which is the primary limitation on the current ratings." said Standard&Poor's credit analyst Paul Vastola. Standard&Poor's said that it expects that
