S&P: Graphic Packaging view now stable

Standard & Poor’s said it revised its outlook on Graphic Packaging International Inc. to stable from positive and affirmed the ratings, including the BB+ corporate credit rating, on the company.

The issue ratings and recovery ratings on the company’s secured bank debt and senior notes are unchanged.

“Our ratings affirmation and outlook revision to stable reflect our view that Graphic Packaging will maintain credit measures over the next 12 to 24 months at the stronger end of a ‘significant’ financial risk profile, with debt to EBITDA in the low 3x range and funds from operations (FFO) to debt of about 25% to 30%,” S&P said in a news release. “We believe these credit measures are adequate for the BB+ rating.”

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