Fitch affirms Weyerhaeuser's ratings at 'BB+'; outlook revised to stable
Aug 25, 2011. Fitch Ratings has affirmed the 'BB+' issuer default rating (IDR) and the 'BB+' senior unsecured debt rating of Weyerhaeuser Company. The Rating Outlook has been revised to Stable from Negative. The ratings are based on the prospective earnings of Weyerhaeuser's business portfolio and the company's liquidity profile, including its non-core timberlands.
Aug 25, 2011. /Lesprom Network/. Fitch Ratings has affirmed the 'BB+' issuer default rating (IDR) and the 'BB+' senior unsecured debt rating of Weyerhaeuser Company. The Rating Outlook has been revised to Stable from Negative. The ratings are based on the prospective earnings of Weyerhaeuser's business portfolio and the company's liquidity profile, including its non-core timberlands, as the company said in a press release received by Lesprom Network.
Fitch expects that Weyerhaeuser could earn $850 million to $950 million in EBITDA this year exiting the year with a debt/EBITDA of 5.0 times (x). Working capital and curtailed capital expenditures could operate to produce a free cash flow of near $300 million after dividends of $0.60 per share.