Standard & Poor's today said that Rayonier Inc.'s (BBB-/Stable/--) planned sale of 83,000 acres of East Coast New Zealand timberlands will not result in any change to its ratings or outlook on the company. Cash proceeds of about $65 million are expected to be used to further reduce debt. Standard & Poor's ratings incorporate expectations that Rayonier will sell between 2% and 4% of its timberlands annually....
Companies mentioned in this report are: Rayonier Inc.
Action: S&P Event
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.