Owens-Illinois (OI) Corporate Debt Upgraded To BB+

Standard & Poor's announced on Wednesday that the credit rating agency was raising its corporate credit rating of Owens-Illinois, Inc. (NYSE: OI) from BB to BB+.

S&P credit analyst Cynthia Werneth said that Standard & Poor's raised Owens-Illinois's credit rating because she expected a steady performance and believed that the company would "maintain credit measures appropriate for the new ratings."

Owens stock is down just over 1% during today's trading.