- Language: English
- 103 Pages
- Published: January 2012
- Region: Yemen
Research Update: Tembec Inc. Ratings Placed On CreditWatch Positive Following Softwood Lumber Agreement Apr 06
- Published: April 2006
- Standard & Poors
On April 28, 2006, Standard & Poor's Ratings Services placed its 'CCC-' corporate credit and senior unsecured debt ratings on Tembec Inc. on CreditWatch with positive implications, following the announcement that the Canadian and U.S. governments have reached a framework deal for a settlement of the softwood lumber dispute that includes a refund of about 80% of the duties paid. Tembec has paid duties totaling about C$327 million since 2002. A duty refund of 80% (paid in U.S. dollars) would be about C$230 million and will materially improve Tembec's precarious liquidity position. At March 25, 2006, Tembec had cash and in-the-money derivative financial instruments of C$16 million and unused operating lines of about C$42 million. The timing of the duty...
Companies mentioned in this report are: Tembec Inc.,Tembec Industries Inc.
Action: On CreditWatch:Positive
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.
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Tembec Inc.,Tembec Industries Inc.
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