Fitch affirms Solo Cup

Fitch Ratings said it has affirmed Solo Cup Co.'s issuer default rating and existing ratings as follows: issuer default rating at B- and senior subordinated notes at CCC/RR5.

Fitch said it also has assigned the following ratings to Solo's $200 million asset-based revolving credit facility due 2013 and $300 million senior secured notes due 2013: ABL credit facility at BB-/RR1; and senior secured notes BB-/RR1.

The outlook is stable.

Proceeds from the secured note offering and new bank financing will be used to repay all amounts outstanding under Solo's existing first-lien credit agreement, which was $369 million as of the first quarter of 2009, the agency added.

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