Improving operating performance at U.S.-based Berry Plastics Corp. continues to support a gradually improving financial profile. We are revising the outlook to positive from stable and affirming our 'B-' corporate credit rating on Berry Plastics Corp. We also affirmed the issue-level and recovery ratings on the company's first-lien senior secured debt, second-lien, subordinated debt, and its parent company's senior unsecured debt. The positive outlook reflects our expectation of improving operating trends and a strengthening of the financial profile and adequate liquidity. (Watch the related CreditMatters TV segment titled, "Standard&Poor?s Revises Its Outlook On Berry Plastics," dated Aug. 3, 2012.) On Aug. 2, 2012, Standard&Poor's Ratings Services revised its outlook on Berry Plastics Corp. to positive from
