Fitch affirms Ball

Fitch Ratings said it affirmed Ball Corp.'s issuer default rating and senior debt at BB+ and its senior secured credit facility at BBB-. The outlook is stable.

The agency said the affirmation incorporates the company's solid cash flow generation, stable credit metrics, leading market positions in its product categories/market segments and current expectations in the packaging end-markets.

Fitch believes the risks incorporated in the ratings are quite manageable. These risks include the acquisitive nature of the company, its underfunded pension plans and the risks inherent within the packaging segment including emerging markets risk and revenue/customer concentration.

Leverage at the end of the third quarter was 2.9 times. For 2012, Fitch does not expect any further debt reduction.

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