The ratings on Cascades reflect what Standard & Poor's views as the company's good market position in consolidated markets, a diverse revenue stream, and vertical integration. These strengths are partially offset, in our opinion, by what we see as the company's exposure to cyclical boxboard and containerboard markets, volatile recycled fiber prices, and high debt levels. Cascades is an integrated packaging and tissue company that manufactures, converts, collects, and processes recycled paper. It is the No. 1 containerboard producer in Canada, and the third-largest producer of coated recycled boxboard and fourth-largest tissue producer in North America. The company operates facilities in Canada, the U.S., and to a lesser extent, Europe. Standard & Poor's considers Cascades' business risk profile as fair....
Companies mentioned in this report are: Cascades Inc.
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