Moody’s assigns Rayonier stable outlook

Moody's Investors Service said it assigned a stable outlook and affirmed Rayonier, LP's Baa3 senior unsecured rating.

“The assignment of a stable outlook at Rayonier, LP follows withdrawal of ratings and outlook at Rayonier Inc. after the company repaid the notes issued at Rayonier Inc. All rated debt is currently at Rayonier, LP, a subsidiary of Rayonier Inc., which holds all of its assets and liabilities,” Moody’s said in a press release.

The outlook reflects expectations that Rayonier will maintain strong timber asset coverage and will deliver stable earnings, with recovery in Southern timberland volumes and stronger pricing offsetting weaker performance in New Zealand, the agency said.

© 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.