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DBRS ups Domtar
DBRS said it upgraded the issuer rating of Domtar Corp. to BB (high) from BB and its senior unsecured notes rating to BB (high) from BB (low). The agency also said it upgraded the rating of Domtar Inc. to BB (high) from BB (low).
The trend is stable.
The upgrade reflects the company's progress in de-leveraging its balance sheet and strengthening its financial profile, DBRS said.
The company also strengthened its business risk profile by rightsizing its manufacturing footprint and improving its cost competitiveness, the agency said.
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