S&P assigns BB- to O-I Glass

S&P said it assigned a BB- rating to O-I Glass Inc., the new holding company for Owens-Illinois Inc.

“The BB- issuer credit rating is the same level as our rating on the predecessor company, Owens-Illinois Inc., because the corporate modernization plan does not affect the group's existing cash flows, collateral pledges, or subsidiary guarantees,” the agency said in a press release.

All issue-level and recovery ratings on the company’s debt remain unchanged.

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