On March 6, 2007, Standard&Poor's Ratings Services revised its outlook on Consolidated Container Co. LLC and its wholly owned subsidiary Consolidated Container Capital Inc. to positive from negative, and affirmed its 'B-' corporate credit rating on the companies. At the same time, we assigned a 'B-' bank loan rating and a recovery rating of '2' to the company's proposed $390 million first-lien term loan indicating our expectation for a substantial recovery of principal in the event of a payment default. We also assigned a 'CCC' bank loan rating and a '5' recovery rating to a proposed $250 million second-lien term loan, indicating our expectation for a negligible recovery of principal in the event of a payment default. The
