S&P: Plum Creek outlook to positive

Standard & Poor's said it revised the outlook on Plum Creek Timber Co. Inc. to positive from stable and affirmed its BBB- corporate credit and senior unsecured debt ratings.

The outlook revision reflects Plum Creek's demonstrated ability to maintain its intermediate financial risk profile and steady operating results even during a severe housing downturn, S&P said.

The company's capacity to manage its harvest and log mix and the continued good performance of its real estate segment has resulted in EBITDA in the $550 million to $650 million range, the agency said.

The outlook revision reflects Plum Creek's demonstrated ability to maintain its intermediate financial risk profile and steady operating results even during a severe housing downturn, S&P said.

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