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Crown Holdings Inc.'s Proposed $250 Million Sr. Unsecured Notes Rated 'BB-', Assigned '5' Recovery Rating

Published May 05, 2009

566 words — Published May 05, 2009

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Abstract:

NEW YORK (Standard&Poor's) May 5, 2009--Standard&Poor's Ratings Services said today that it assigned issue-level and recovery ratings to Crown Americas LLC and Crown Americas Capital Corp. II proposed joint offering of $250 million of senior unsecured notes due 2017. The issue rating on the notes is 'BB-' (one notch lower than the 'BB' corporate credit rating on the parent, Crown Holdings Inc.). The recovery rating is '5', which indicates our expectation for modest (10%-30%) recovery in the event of a payment default. (For the latest complete recovery rating report, see Standard&Poor's recovery rating profile on Crown Holdings published May 5, 2009.) The corporate credit rating on Crown Holdings Inc. (BB/Stable/--) and all other issue-level

Brief Excerpt:

RESEARCH Crown Holdings Inc.'s Proposed $250 Million Sr. Unsecured Notes Rated '##-', Assigned '5' Recovery Rating Publication date: 05-May-2009 Primary Credit Analyst: Cynthia Werneth, CFA, New York (1) 212-438-7819; cindy_werneth@standardandpoors.com...

Report Type:

Ratings Action

Ticker

CCK

Issuer

Crown Holdings Inc.

GICS

Metal & Glass Containers (15103010)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Summary: Crown Holdings Inc. – 2009/09/16 – US$ 225.00

Crown Holdings Inc. Outlook Revised To Positive, 'BB' Rating Affirmed – 2010/03/25 – US$ 150.00

Research Update: Crown Holdings Inc. Outlook Revised To Positive, 'BB' Rating Affirmed – 2010/03/25 – US$ 225.00

Crown Holdings Inc. – 2010/04/01 – US$ 500.00

Summary: Crown Holdings Inc. – 2010/04/01 – US$ 225.00

Crown Holdings Inc. – 2009/04/22 – US$ 500.00

Summary: Crown Holdings Inc. – 2009/04/22 – US$ 225.00

Crown Holdings Inc. Upgraded To 'BB' From 'BB-'; Outlook Stable – 2009/04/15 – US$ 150.00

Research Update: Crown Holdings Inc. Rating Raised To 'BB' From 'BB-'; Outlook Stable – 2009/04/15 – US$ 225.00

Summary: Crown Holdings Inc. – 2008/10/03 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Crown Holdings Inc.'s Proposed $250 Million Sr. Unsecured Notes Rated 'BB-', Assigned '5' Recovery Rating" May 05, 2009. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Crown-Holdings-Inc-s-Proposed-250-Million-Sr-Unsecured-Notes-Rated-BB-Assigned-5-Recovery-Rating-719993>

APA:	S&P Global Ratings’ Credit Research. (). Crown Holdings Inc.'s Proposed $250 Million Sr. Unsecured Notes Rated 'BB-', Assigned '5' Recovery Rating May 05, 2009. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Crown-Holdings-Inc-s-Proposed-250-Million-Sr-Unsecured-Notes-Rated-BB-Assigned-5-Recovery-Rating-719993>

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