New York, October 05, 2015 -- Novolex Holdings, Inc.'s (B2 negative) announcement that it has acquired U.S.-based Wisconsin Film & Bag ("WF&B") (not rated) is a modest credit positive as it expands the company's offering of custom films and bags and increases its usage of recycled resins, marginally improving its cost structure. The announcement has no impact on ratings as we do not expect material changes in credit metrics.

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