S&P affirms Verso Paper

Standard & Poor's said it affirmed its ratings on Verso Paper Holdings LLC, including its B corporate credit rating.

The outlook is positive.

At the same time, the agency said it removed the ratings from CreditWatch with positive implications, where they were originally placed on April 29, following the company's announcement of a planned initial public offering to raise about $337 million in proceeds to be used to reduce debt.

S&P added that the ratings affirmation and CreditWatch resolution reflect the completion of the IPO, although proceeds of about $150 million were less than initially expected.

© 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.