New York, February 27, 2014 -- Bemis' announcement that it will sell its paper packaging division to Hood Packaging Corporation will have no immediate impact on ratings. Terms of the agreement were not disclosed. While the sale is a positive for Bemis as it allows management to continue to focus on the company's core business in flexible packaging, the use of proceeds has not been disclosed and the purchase amount is not likely to be material relative to the company's debt given the size of the division.
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