FITCH REVISES CANPACK GROUP INC.’S OUTLOOK TO POSITIVE; AFFIRMS IDR at “BB –“
Business Update | January 15, 2025
Wayne, Pennsylvania (Jan 15, 2025) – Fitch Ratings has revised CANPACK Group, Inc’s (CANPACK) Outlook Positive from Stable, while affirming its Long-Term Issuer Default Ratings (IDR) at ‘BB-‘. The senior unsecured rating is affirmed at ‘BB- ‘with a Recovery Rating of ‘RR4’. The Outlook revision reflects Fitch’s expectation of an improvement in CANPACK’s Fitch-defined EBITDA gross leverage to below 4.0x across 2024-2027.
About CANPACK Group, Inc.
CANPACK Group, part of Giorgi Global Holdings, Inc, is a global manufacturer of aluminum beverage cans and packaging solutions for the food and beverage industries, as well as glass bottles and metal closures. CANPACK employs approximately 8,500 people worldwide and has operations in 16 countries. For more information, visit www.canpack.com.
Enquiries:
CANPACK IR team
Lorenzo Ruffatti
Group Treasury & Investor Relations Director
Marta Kopcik
Group Communications Manager
Email: IR@canpack.com
CANPACK IR Advisor
Daisy Padovan – H/Advisors Maitland
Phone: +44 (0) 207 379 5151
Email: canpack@h-advisors.global