On Sept. 22, 2006, Standard&Poor's Ratings Services lowered its corporate credit rating on Berry Plastics Holding Corp. to 'B' from 'B+' following successful completion of the acquisition of the company by private equity firms, Apollo Management L.P. and Graham Partners. We removed the ratings from CreditWatch, where they were placed with negative implications on Aug. 3, 2006 (see list below). The outlook is stable. Pro forma for the transaction, Evansville, Ind.-based Berry had total debt outstanding of about $1.9 billion at July 1, 2006. The ratings on Berry Plastics Holding Corp., the parent of Berry Plastics Corp., reflect its highly leveraged financial profile which is partially offset by the company's fair business profile with large market shares in
