Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed - S&P Global Ratings’ Credit Research

Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed

Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed - S&P Global Ratings’ Credit Research
Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed
Published Jan 21, 2011
2285 words — Published Jan 21, 2011
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Crown Americas LLC and Crown Americas Capital Corp. III, subsidiaries of global can maker Crown Holdings Inc., are jointly issuing $700 million of senior unsecured notes due 2021, primarily for refinancing. We are assigning a 'BB-' senior unsecured debt rating and a recovery rating of '5' to these notes. We are affirming our 'BB' corporate credit rating as well as our unsecured debt ratings on Crown Holdings Inc. and its subsidiaries. Based on our updated recovery analysis, we are lowering our senior secured debt rating to 'BB+' with a recovery rating of '2' from 'BBB-' with a recovery rating of '1'. The positive outlook is based on our expectation that the company's financial profile will continue to strengthen through strong

  
Brief Excerpt:

RESEARCH Research Update: Crown Holding Inc.'s Notes Rated '##-'; Senior Secured Debt Lowered To '##+'; Other Ratings Affirmed Publication date: 21-Jan-2011 Primary Credit Analyst: Cynthia Werneth, CFA, New York (1) 212-438-7819;...

  
Report Type:

Research Update

Ticker
CCK
Issuer
Crown Holdings Inc.
GICS
Metal & Glass Containers (15103010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed" Jan 21, 2011. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Crown-Holding-Inc-s-Notes-Rated-BB-Senior-Secured-Debt-Lowered-To-BB-Other-Ratings-Affirmed-844274>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed Jan 21, 2011. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Crown-Holding-Inc-s-Notes-Rated-BB-Senior-Secured-Debt-Lowered-To-BB-Other-Ratings-Affirmed-844274>
  
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