Tear Sheet: Ring Container Technologies Group LLC

We expect volumes to increase in 2024 due to destocking trends mitigating in the fourth quarter of 2023, new business wins in the company?s polyethylene terephthalate (PET) products, and a slight increase in pounds sold of the company?s 35-lb. high-density polyethylene (HDPE) edible oil containers. The Ultra35 unit volumes have been stable through 2023, and we expect slight upside in 2024. In addition, we anticipate revenues will increase from the pass through of higher raw material costs. The company's automation and cost control investments have resulted in improved operating efficiency despite a fall-off in its HDPE volumes over the last year. We expect margins will improve for full-year 2023 and remain stable in 2024. This will likely support modest EBITDA

...Foreign currency issuer credit rating B/Stable/-- Local currency issuer credit rating B/Stable/-- Business risk Weak Country risk Very Low Industry risk Intermediate Competitive position Weak Financial risk Highly Leveraged Cash flow/leverage Highly Leveraged Anchor b Diversification/portfolio effect Neutral (no impact) Capital structure Neutral (no impact) Financial policy FS-6 (no impact) Liquidity Adequate (no impact) Management and governance Moderately Negative (no impact) Comparable rating analysis Neutral (no impact) Stand-alone credit profile b...

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