Ratings on Rayonier Inc. Affirmed, Outlook Revised to Negative Oct 99

  • ID: 2083089
  • October 1999
  • Standard & Poors
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NEW YORK (Standard & Poor's CreditWire) Oct. 27, 1999--Standard & Poor's today affirmed its ratings on Rayonier Inc. and wholly owned subsidiary Rayonier Timberlands Operating Co. L.P. (see list below). However, the outlook was revised to negative from stable. The outlook revision follows Rayonier's announcement of a program designed to return funds to shareowners through a significant share repurchase program which the company indicates may keep debt levels higher than had originally been anticipated in the current ratings. Rayonier has indicated its intent to maintain investment-grade status, but any weakness in the cyclical businesses in which it operates could make it difficult to generate credit protection measures consistent with the ratings. Rayonier has an average business position as a timberlands...

Companies mentioned in this report are: Rayonier Inc.,Smurfit-Stone Container Corp.,Rayonier Forest Resources L.P.
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.

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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Rayonier Inc.,Smurfit-Stone Container Corp.,Rayonier Forest Resources L.P.

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