Apr 28, 2004. /Lesprom Network/. Moody's Investors Service on Tuesday revised its outlook on International Paper Co. to "negative" from "stable," citing a recent acquisition announcement, and concern that the paper company may be losing its focus on reducing debt. International Paper, the world's largest forest products company, said last week it would acquire corrugated packaging company Box USA Holdings Inc. Terms of the deal were not disclosed. Moody's also affirmed International Paper's ratings, including its "Baa2" senior unsecured rating.