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Sealed Air Limited -- Moody's affirms Sealed Air's Ba2 CFR following the announcement of debt funded acquisition of Automated Packaging Systems; outlook stable

Moody's Investors Service ("Moody's") affirmed the Ba2 Corporate Family Rating and Ba2-PD Probability of Default Rating of Sealed Air Corp. Moody's also affirmed all other existing instrument ratings of Sealed Air Corp. and Sealed Air Limited. The affirmation follows the company's announcement that it had entered into a definitive agreement to acquire Automated Packaging Systems in an all debt financed transaction which includes a purchase price of $510 million on a cash and debt-free basis.