Moody's Ratings assigns Baa3 rating to Sonoco's proposed unsecured notes
Moody's Ratings (Moody's) assigned a Baa3 rating to Sonoco Products Company's (Sonoco) proposed new senior unsecured notes. Proceeds from the proposed new notes will be used in conjunction with borrowings from term loan facilities to fund the pending acquisition of Eviosys (rated as Titan Holdings I...Sonoco Products is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The company's segments are: Consumer Packaging, which includes round composite cans, shaped rigid paperboard containers, fiber and plastic caulk/adhesive tubes, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; Paper and Industrial Converted Products, which include recycled paperboard, chipboard, tubeboard, lightweight corestock, boxboard, linerboard, corrugating medium, edgeboard, paper grades, and adhesives; Display and Packaging, which include point-of-purchase displays; and Protective Solutions, which include packaging and components.
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