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Canada-U.S. Softwood Lumber Settlement Has Various Credit Implications Apr 06
Standard & Poors, April 2006
Abstract
TORONTO (Standard & Poor's) April 28, 2006--The Canadian and U.S. governments have reached a framework deal to negotiate an end to the softwood lumber dispute. Although full details of the agreement have not been released, about 80% of the duties paid will be refunded to Canadian producers and an export tax will be charged to Canadian producers' lumber prices that fall below certain thresholds. The exact timing of when companies will receive their refunds is also unclear. Accordingly, Standard & Poor's Ratings Services is not taking any rating actions at this time, although the ratings on Tembec Inc. have been placed on CreditWatch with positive implications. 'We can reiterate our opinion on potential credit implications, assuming the proceeds are used...
Companies mentioned in this report are: Weyerhaeuser Co.,Bowater Inc.,Pope & Talbot Inc.,Domtar Inc.,West Fraser Timber Co. Ltd.,Tembec Inc.,Abitibi-Consolidated Inc.,Millar Western Forest Products Ltd.,Fraser Papers Inc.
Action: General Comment
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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