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S&P: Rayonier outlook positive
Standard & Poor's said it revised the outlook on Rayonier Inc. to positive from stable and affirmed its BBB corporate credit rating.
The outlook on subsidiary Rayonier Timberlands Operating Co. LP was also revised to positive from stable.
The actions reflect Rayonier's demonstrated ability to maintain its intermediate financial risk profile and steady operating results even during a severe housing downturn, according to the agency.
The company has been able to maintain consistent credit measures, including a debt-to-EBITDA ratio in the low-2x area, S&P said.
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