U.S. plastic container manufacturer Ring Container Technologies Group LLC is adding an incremental first-lien term loan to repay its second-lien term loan. We are affirming our 'B' issuer credit rating on Ring. We are also affirming our 'B' issue-level rating, with a '3' recovery rating, on the revolving credit facility and first-lien term loan and revising the estimated recovery to 55% from 50%. The stable outlook on Ring reflects our expectation that continued revenue growth from the company's HDPE and PET applications, coupled with maintenance of above-average margins, will enable the company to keep its leverage below 6x over the next 12-18 months. We view this level of leverage to be appropriate for the current ratings. On Nov. 2, 2018,
