• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Research Update: Tembec Inc. Ratings Placed On CreditWatch Positive Following Softwood Lumber Agreement Apr 06 Product Image

Research Update: Tembec Inc. Ratings Placed On CreditWatch Positive Following Softwood Lumber Agreement Apr 06

  • Published: April 2006
  • Standard & Poors

Abstract
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 READ MORE >

Tembec Inc.,Tembec Industries Inc.

Format Properties
Electronic The report will be emailed to you.
Note: Product cover images may vary from those shown
More

RELATED PRODUCTS