Moody's assigns Baa2 rating to Sonoco's new unsecured senior notes
Rating Action: Moody's assigns Baa2 rating to Sonoco's new unsecured senior notes. Global Credit Research- 20 Apr 2020. New York, April 20, 2020-- Moody's Investors Service, assigned a Baa2 rating to Sonoco Products Company's proposed $600 million senior unsecured notes.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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