On April 23, 2007, following the merger of Berry Plastics Group Inc. and Covalence Specialty Materials Holding Corp., Standard&Poor's Ratings Services took the following rating actions: We affirmed our 'B' corporate credit rating on Berry Plastics Holding Corp., a wholly owned subsidiary of Berry Plastics Group, which is now the obligor of substantially all the company's debt. We affirmed the 'B+' senior secured debt rating and '1' recovery rating on Berry Plastics Holding's $1.2 billion term loan C due 2015. The working name of the borrower had been New Berry Holding at the time the ratings were assigned. We affirmed the 'CCC+' subordinated debt rating on Berry Plastics Holding's $265 million 10.25% senior subordinated notes due 2016. These
