DBRS confirms TimberWest

DBRS said it confirmed the issuer rating of TimberWest Forest Corp. at BBB.

The trend remains stable.

The confirmation recognizes the significant financial flexibility afforded the company by it large timberland holdings, which can be easily monetized, DBRS said.

The ratings also reflect actions taken by the company to improve its returns and cash flow generation, which are starting to bear fruit, the agency said.

The company has showed modest improvement in its operating results despite the still difficult U.S. market conditions impacted by the weak housing market, DBRS said.

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