Industry Report Card: U.S. Forest Products Apr 05
Standard & Poors, April 2005
Abstract
Standard & Poor's Ratings Services currently rates 35 U.S. forest products companies. About three-quarters of them have speculative-grade ratings (split fairly equally between the 'BB' and 'B' categories) with most of the remaining companies in the 'BBB' category and one in the 'CCC' category. Almost three-quarters of the outlooks are stable, representing significant improvement during the past year. Nevertheless, six companies still have negative outlooks. The general improvement in credit quality is mostly attributable to the strengthening U.S. economy, which caused demand for paper to begin rising about a year ago following a three-year slump. This enabled producers to implement moderate price increases, which, together with high capacity utilization rates, have led to stronger earnings and cash flow for most...
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- Chesapeake Corp.
- Georgia-Pacific LLC
- Rayonier Inc.
- International Paper Co.
- Louisiana-Pacific Corp.
- Pacific Lumber Co.
- Packaging Corp. of America
- Potlatch Corp.
- Weyerhaeuser Co.
- Bowater Inc.
- Temple-Inland Inc.
- Pope & Talbot Inc.
- Longview Fibre Co.
- Glatfelter (P.H.) Co.
- Buckeye Technologies Inc.
- Rock-Tenn Co.
- Inland Fiber Group LLC
- Bear Island Paper Co. LLC
- Caraustar Industries Inc.
- Smurfit-Stone Container Corp.
- Plum Creek Timber Co. Inc.
- Port Townsend Paper Corp.
- Appvion Inc
- MeadWestvaco Corp.
- Graphic Packaging International Inc.
- SP Newsprint Co.
- Blue Ridge Paper Products Inc.
- Stadacona Inc.
- RLC Industries Co.
- Newark Group Inc. (The)
- Cellu Tissue Holdings Inc.
- Koch Cellulose LLC
- Boise Cascade LLC
- Neenah Paper Inc.
- Mercer International Inc.
- White Birch Paper Co.
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