U.S.-based investment holding company Loews Corp. completed its acquisition of packaging company Consolidated Container Co. LLC for $1.2 billion. We are raising our ratings on Consolidated Container, including our corporate credit rating to 'B+' from 'B-', and removing them from CreditWatch, where we placed them with positive implications on April 12, 2017. At the same time, we are affirming our 'B+' issue-level and '3' recovery ratings on the company's new $605 million senior secured first-lien term loan, and are withdrawing our issue-level and recovery ratings on the company's existing debt. The stable outlook reflects our expectation that Consolidated Container will maintain credit measures in the appropriate range. On May 23, 2017, S&P Global Ratings raised its corporate credit rating on
