Standard&Poor's Ratings Services' ratings on Crown Holdings Inc. reflect its satisfactory business risk profile as a leading global can manufacturer with annual sales of about $8 billion and a significant financial risk profile. The company's business strengths include its market position among a handful of global leaders in several segments and its extensive international operations, including good positions in emerging markets with favorable long-term growth prospects. Crown Holdings also has greater customer diversity than most of its peers. In addition, metal packaging producers benefit from fairly stable demand because most of the business is related to the food and beverage industry. They also benefit from a relatively consolidated industry structure, and timely contractual pass-through of raw material cost
RESEARCH Summary: Crown Holdings Inc. Publication date: 03-Jun-2011 Primary Credit Analyst: Cynthia Werneth, CFA, New York (1) 212-438-7819; cindy_werneth@standardandpoors.com Secondary Contact: James T Siahaan, CFA, New York (1)...
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Crown Holdings Senior Secured Debt Ratings Lowered To 'BBB-' From 'BBB', Recovery Rating To '2'; Other Ratings Affirmed – 2011/11/18 – US$ 150.00
Research Update: Crown Holdings Senior Secured Debt Ratings Lowered To 'BBB-' From 'BBB', Recovery Rating To '2'; Other Ratings Affirmed – 2011/11/18 – US$ 225.00
Crown Holdings Inc. – 2011/11/29 – US$ 500.00
Summary: Crown Holdings Inc. – 2011/11/29 – US$ 225.00
Crown Holdings Inc. Ratings Unaffected By Upsizing Of Senior Secured Term Loan A – 2011/12/02 – US$ 150.00
Crown Holdings Inc. – 2011/06/03 – US$ 500.00
Crown Holdings Inc. Upgraded To 'BB+' On Strengthening Financials; Outlook Stable; Ratings Assigned To New Bank Debt – 2011/06/01 – US$ 150.00
Research Update: Crown Holdings Inc. Upgraded To 'BB+' On Strengthening Financials; Outlook Stable; Ratings Assigned To New Bank Debt – 2011/06/01 – US$ 225.00
Crown Holdings' Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed – 2011/01/21 – US$ 150.00
Research Update: Crown Holding Inc.'s Notes Rated 'BB-'; Senior Secured Debt Lowered To 'BB+'; Other Ratings Affirmed – 2011/01/21 – US$ 225.00
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