S&P upgrades RLC

Standard & Poor's said it raised all of its ratings on RLC Industries Co. (Roseburg) by one notch, including raising its corporate credit rating to BB from BB- and the bank loan rating to BBB- from BB+.

The outlook is stable.

The upgrade reflects S&P's belief that Roseburg's financial profile will be stronger than previously expected because of a lower debt burden and less aggressive financial policies.

According to S&P, the ratings on Roseburg reflect its participation in the cyclical, fragmented, and oversupplied wood products industry, potentially softer housing markets, significantly larger competitors, and modest geographic diversity. These characteristics are partially offset by the company's valuable timberland holdings, modern, large-scale facilities, and a meaningful level of vertical integration.

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