Issuer Ranking: U.S. Forest Products Companies, Strongest To Weakest Jul 10
Standard & Poors, July 2010
Abstract
Credit quality in the U.S. forest products sector is likely to strengthen as market conditions improve and companies continue to moderately trim their debt levels, in Standard & Poor's Ratings Services' view. We expect operating performance of our rated universe of forest products companies to improve over the next few quarters, reflecting an almost universal rise in prices and a gradual strengthening in demand for most products. As a result, we believe EBITDA and funds from operations (FFO) should be higher in 2010 than in 2009 (excluding alternative-fuel-mixture tax credits) across the sector. However, in our opinion, discretionary cash flow is likely to be lower for most companies as capital spending picks up from near-maintenance levels, working capital grows to...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Georgia-Pacific LLC
- Rayonier Inc.
- International Paper Co.
- Louisiana-Pacific Corp.
- Packaging Corp. of America
- Potlatch Corp.
- Weyerhaeuser Co.
- Temple-Inland Inc.
- Glatfelter (P.H.) Co.
- Buckeye Technologies Inc.
- Rock-Tenn Co.
- Smurfit-Stone Container Corp.
- Plum Creek Timber Co. Inc.
- Appleton Papers Inc.
- MeadWestvaco Corp.
- Graphic Packaging International Inc.
- RLC Industries Co.
- Cellu Tissue Holdings Inc.
- Boise Cascade LLC
- Neenah Paper Inc.
- Mercer International Inc.
- White Birch Paper Co.
- NewPage Corp.
- Packaging Dynamics Corp.
- Verso Paper Holdings LLC
- U.S. Corrugated Inc.
- Boise Paper Holdings LLC
- Clearwater Paper Corp.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
