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Research Update: AbitibiBowater Inc. Upgraded To 'BB-' From 'B+' On Improving Profitability And Debt Reduction; Outlook Stable Sep 11

Description:
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. On Sept. 30, 2011, Standard & Poor's Ratings Services raised its long-term corporate credit rating on AbitibiBowater Inc. (ABI) to 'BB-' from 'B+'. The outlook is stable. At the same time, we raised our...

Companies mentioned in this report are:
- Resolute Forest Products 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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Companies Mentioned
- Resolute Forest Products Inc.
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Research Update: AbitibiBowater Inc. Upgraded To 'BB-' From 'B+' On Improving Profitability And Debt Reduction; Outlook Stable Sep 11

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