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AbitibiBowater Inc. CCR Raised To 'BB-' From 'B+' On Improving Profitability And Debt Reduction; Outlook Stable Sep 11
Standard & Poors, Sep 2011
Abstract
We are raising our long-term corporate credit rating on AbitibiBowater Inc. (ABI) to 'BB-' from 'B+'. At the same time, Standard & Poor's is raising its issue-level rating on ABI's secured debt to 'BB-' from 'B+'. The recovery rating is unchanged at '3'. The upgrade reflects our opinion of the company's improving profitability and recent reduction in debt. The stable outlook reflects Standard & Poor's expectations that the company will continue to generate positive cash flows and use excess cash flows to pay down secured notes. TORONTO (Standard & Poor's) Sept. 30, 2011--Standard & Poor's Ratings Services today said it raised its long-term corporate credit rating on AbitibiBowater Inc. (ABI) to 'BB-' from 'B+'. The outlook is stable. At the...
Companies mentioned in this report are: AbitibiBowater Inc.
Action: Outlook: Stable
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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