On Oct. 7, 2002, Standard&Poor's Ratings Services placed its 'B-' corporate credit rating on Consolidated Container Company LLC and its wholly owned subsidiary, Consolidated Container Capital Inc., on CreditWatch with negative implications. The CreditWatch listing reflects heightened concerns regarding the company's liquidity position (including tightening financial covenants and increasing debt maturities) in light of its ongoing operating challenges and more stringent credit standards. 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. Total outstanding debt at June 30, 2002, was about $573 million. The ratings reflect the company's very aggressive financial leverage and weak financial profile, which overshadow
