Moody’s rates Owens-Brockway notes Ba3

Moody's Investors Service said it assigned Ba3 ratings to the senior unsecured notes due November 2023 and November 2025 of Owens-Brockway Glass Container, Inc.

Owens-Illinois Inc.'s Ba2 corporate family, Ba2-PD probability of default, and other instrument ratings are unchanged.

The outlook is stable.

Proceeds will be used to refinance existing debt, to pay fees and expenses associated with the transaction and for general corporate purposes.

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