On Aug. 16, 2002, Standard&Poor's Ratings Services affirmed its 'B-' corporate credit rating on Consolidated Container Company LLC and its wholly owned subsidiary, Consolidated Container Capital Inc., reflecting the company's announcement that it is in compliance with the financial covenants related to its bank facilities. This disclosure provides a measure of relief from immediate liquidity pressures, particularly in view of sequential improvement in financial performance in the second quarter of 2002. The ratings were removed from CreditWatch, where they were placed on April 30, 2002. The outlook is negative. Atlanta, Ga.-based Consolidated is a domestic producer of rigid plastic containers for a variety of consumer products, including dairy, water, foods, beverages, household and agricultural chemicals, and motor oil.
