Research Update: W/S Packaging Holdings Inc. Downgraded To 'CCC', Outlook Negative; Debt Rating Lowered To 'CCC+' - S&P Global Ratings’ Credit Research

Research Update: W/S Packaging Holdings Inc. Downgraded To 'CCC', Outlook Negative; Debt Rating Lowered To 'CCC+'

Research Update: W/S Packaging Holdings Inc. Downgraded To 'CCC', Outlook Negative; Debt Rating Lowered To 'CCC+' - S&P Global Ratings’ Credit Research
Research Update: W/S Packaging Holdings Inc. Downgraded To 'CCC', Outlook Negative; Debt Rating Lowered To 'CCC+'
Published Feb 16, 2016
6 pages (2115 words) — Published Feb 16, 2016
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

W/S Packaging Holdings Inc. has reported much weaker than expected operating performance for the quarter ended Dec. 31, 2015, and the resultant negative free operating cash flow has materially decreased the company's cash position. It is highly likely that the company will be unable to service its debt obligations if it is unable to improve its free cash flow and obtain an amendment to its credit agreement to address tighter financial covenants in the next few quarters. As a result, we are lowering the corporate credit rating on W/S Packaging to 'CCC' from 'B'. At the same time, we are lowering the rating on subsidiary W/S Packaging Group Inc.'s senior secured credit facility to 'CCC+' from 'B+'. The negative outlook

  
Brief Excerpt:

...W/S Packaging Holdings Inc. has reported much weaker than expected operating performance for the quarter ended Dec. 31, 2015, and the resultant negative free operating cash flow has materially decreased the company's cash position....

  
Report Type:

Research Update

Ticker
1251188D
Issuer
LABL Inc
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: W/S Packaging Holdings Inc. Downgraded To 'CCC', Outlook Negative; Debt Rating Lowered To 'CCC+'" Feb 16, 2016. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-W-S-Packaging-Holdings-Inc-Downgraded-To-CCC-Outlook-Negative-Debt-Rating-Lowered-To-CCC-1578745>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: W/S Packaging Holdings Inc. Downgraded To 'CCC', Outlook Negative; Debt Rating Lowered To 'CCC+' Feb 16, 2016. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-W-S-Packaging-Holdings-Inc-Downgraded-To-CCC-Outlook-Negative-Debt-Rating-Lowered-To-CCC-1578745>
  
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