Wisconsin-based W/S Packaging Holdings Inc. has experienced some operating weakness and a moderately increased level of volatility in its profitability in recent years. We have revised our assessment of the company's business risk profile to weak from fair. We are affirming our 'CCC' corporate credit rating on W/S Packaging Holdings Inc. The negative outlook reflects that we may downgrade the company if its liquidity situation worsens, potentially due to a covenant violation or a weaker operating performance that leads to a default. NEW YORK (S&P Global Ratings) July 28, 2016--S&P Global Ratings said today that it has affirmed its 'CCC' corporate credit rating on Wisconsin-based W/S Packaging Holdings Inc. The outlook remains negative. "We revised our assessment of W/S Packaging
