S&P raises Solo Cup

Standard & Poor's said it raised all its ratings on Solo Cup Co. by one notch and removed them from CreditWatch where they had been placed with positive implications on Oct. 24, 2007.

The outlook is stable.

At the same time, the agency said it assigned a recovery rating of 6 to the company's subordinated debt, adding that the CCC subordinated debt rating and recovery rating of 6 indicate its expectations for negligible recovery for subordinated debtholders in a payment default.

S&P noted that the upgrade reflects management's successful turnaround of operations via various initiatives and significant debt reduction with asset sale proceeds.

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