Moody’s reviews Rayonier

Moody's Investors Service said it placed the Baa2 senior unsecured rating of Rayonier Inc. under review for possible downgrade.

Rayonier will increase the average age of its timberlands in the Pacific Northwest by simultaneously selling 55,000 acres of land with younger trees and buying 61,000 acres of older, more merchantable timberland, for a net purchase price of about $133 million, and this will increase 2015 pro-forma adjusted leverage to about 4.9 times from 4.2 times.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.