TRIANGLE INDUSTRIES <TRI>, UNIT AFFIRMED BY S/P
Standard and Poor's Corp said it
affirmed the ratings on 255 mln dlrs of debt of Triangle
Industries Inc and the unit National Can Corp.
    S and P cited an increase in Triangle's equity base to
about 450 mln dlrs at year-end 1986 from 102 mln dlrs a year
ago. That resulted from a conversion of debt securities and the
issuance of equity to American Can Co <AC> as part of the
purchase prices for American Can's packaging operations.
    Affirmed were Triangle's B-minus subordinated debt and
preferred stock and National Can's B-plus senior debt and
B-minus subordinated debt.
 Reuter
