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Research Update: Tembec Inc. Oct 03 Product Image

Research Update: Tembec Inc. Oct 03

  • ID: 2026029
  • October 2003
  • Standard & Poors

Abstract
On Oct. 28, 2003, Standard & Poor's Ratings Services revised the outlook on diversified pulp, paper, and wood products producer Tembec Inc. to negative from stable. At the same time, all ratings on the company, including the 'BB' long-term corporate credit rating, were affirmed. The revision stems from concerns that Tembec will be unable to significantly improve credit ratios from very weak current levels in the near term, and the company could be challenged to average levels commensurate with the ratings category through the cycle. Although the economy has shown signs of improving, there are doubts about the legitimacy of the recovery and the extent and speed that it will translate into stronger pulp and paper consumption in 2004. Furthermore,...

Companies mentioned in this report are: Tembec Inc.,Domtar Inc.
Action: Outlook Revised

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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