Rayonier Inc. Mar 11
- ID: 2083093
- March 2011
- Standard & Poors
Valuable timberlands holdings; Good geographic and product diversity; Large proportion of value-added products; Stable earnings and cash flows; and Tax-efficient corporate structure. Cyclical end markets; Prospects for weak housing markets in the near-term; Competitive commodity product pricing; and High dividend payout ratio relative to cash flows. The ratings on Rayonier Inc. reflect what Standard & Poor's Ratings Services considers to be the company's satisfactory business risk profile and intermediate financial risk profile. Rayonier's diverse portfolio of value-added cellulose products, good geographic diversity, valuable timberland holdings, solid free cash flow levels, and management's commitment to maintaining a moderate financial policy support our assessment. The ratings also reflect cyclical end markets, some exposure to volatile commodity prices, and a high dividend payout...
Companies mentioned in this report are: Rayonier Inc.,Rayonier Forest Resources L.P.
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