...- Philadelphia, Pa.-based Crown Holdings Inc. finished fiscal 2020 with its highest EBITDA in company history, fueled from very strong metal can demand, particularly in North America, following disruptions from the COVID-19 pandemic and we expect this momentum to continue in 2021. - In addition, the company is divesting of its European Tinplate business for proceeds of about 1.9 billion, which will accelerate deleveraging to its target level. - As a result, we are affirming the '##+' issuer credit rating on Crown and revising the outlook to stable from negative. - The issue-level ratings and recovery ratings are unchanged at this time. We expect to review these ratings once the company provides details on the use of asset sale proceeds and potential impact on recovery prospects on the debt issues. - The stable outlook reflects our expectation Crown's revenue and earnings will benefit from strong industry demand tailwinds, leading to continued improved credit measures well below 5x in fiscal...
