S&P: Owens-Illinois view negative

Standard & Poor's said it affirmed the BB+ corporate credit rating on Owens-Illinois Inc. and its subsidiaries and revised the outlook to negative from stable.

"We believe that some of the challenges Owens-Illinois is currently facing are temporary and that management's steps to adjust capacity and improve operating efficiency should cause credit measures to recover to previous levels," S&P analyst Cynthia Werneth said in a statement.

"In addition, we believe that financial policies are prudent and that management is committed to lowering debt leverage somewhat."

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