New York, February 06, 2015 -- Moody's Investors Service said Graphic Packaging International, Inc's (Ba2, stable) initiation of a quarterly dividend and a new $250 million share repurchase program do not impact ratings and outlook as we expect both to be funded from free cash generation. Graphic will spend approximately $48 million on dividends in 2015 and we expect it to manage the pace of share repurchases such that its credit metrics will remain supportive of the Ba2 rating.

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