Standard&Poor's Ratings Services' ratings on Philadelphia-based metal packaging producer Crown Holdings Inc. reflect its "satisfactory" business risk profile as a leading global can manufacturer (with annual sales of $8.5 billion) and its "significant" financial risk profile. The company's business strengths include its market position among a handful of global leaders in metal packaging and its extensive international operations, including good positions in emerging markets with favorable long-term growth prospects. Crown also has greater customer diversity than most of its peers. In addition, metal packaging producers benefit from fairly stable demand, because most of their business is related to the food and beverage industry. They also benefit from a relatively consolidated industry structure and timely contractual pass-through of raw
