Moody’s rates Owens-Brockway notes B1

Moody's Investors Service said it assigned B1 ratings to the new senior unsecured notes due August 2023 and August 2025 of Owens-Brockway Glass Container, Inc.

Parent company Owens-Illinois Inc.'s Ba3 corporate family rating, Ba3-PD probability of default, SGL and other instrument ratings are unchanged

The outlook is stable.

Proceeds will be used to fund the acquisition of Vitro's food & beverage business and to pay fees and expenses associated with the transaction. The acquisition is expected to be completed before year-end.

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