U.S.-based Consolidated Container Co. LLC and its wholly owned subsidiary, Consolidated Container Capital Inc., recently announced that affiliates of Bain Capital Partners LLC will acquire the companies. We're placing all ratings on Consolidated Container on CreditWatch with negative implications. The CreditWatch listing means we could affirm or lower the ratings following a completion of our review. On May 31, 2012, Standard&Poor's Ratings Services placed its ratings on Consolidated Container, including its 'B' corporate credit rating, on CreditWatch with negative implications. Consolidated Container, a producer of rigid plastic packaging containers, announced global private investment firm Bain Capital Partners LLC (not rated) will buy the company. The companies have not disclosed terms of the definitive agreement to purchase the privately
