S&P puts Solo Cup on developing watch

Standard & Poor's said it placed the B- corporate credit rating on Solo Cup Co. on CreditWatch with developing implications.

The CreditWatch listing follows news that Solo agreed to be acquired by unrated Dart Container Corp. in a transaction valued at about $1 billion, S&P said.

With annual revenues of about $1.6 billion, Solo is one of the largest providers of disposable plastic, paper and foam cups, along with plates and cutlery, the agency said.

S&P said it will monitor developments relating to this transaction and will resolve the CreditWatch listing following a review of the proposed combination.

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