Fitch affirms Owens-Illinois

Fitch Ratings said it has affirmed Owens-Illinois Inc.'s issuer default rating and debt ratings as follows: issuer default rating at BB and senior unsecured notes at BB-; as well as Owens Brockway Glass Container Inc.'s issuer default rating at BB, senior secured credit facilities at BBB- and senior unsecured notes at BB+.

Also affirmed were OI European Group, BV's ratings of senior secured credit facility at BBB- and senior unsecured notes to BB+, the agency said.

The outlook is stable.

According to Fitch, Owens-Illinois' BB issuer default rating and stable outlook are supported by the company's good financial flexibility, leading global market positions, its strengthened credit profile, improved cost structure and price discipline, technology Leadership and long-term customer relationships with large, stable customers.

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