Moody's affirms Weyerhaeuser

Moody's Investors Service said it affirmed Weyerhaeuser Co.'s Baa2 senior unsecured debt ratings and Prime-2 commercial paper ratings.

The outlook was changed to negative from stable, the agency said, noting that the negative outlook reflects risks that the U.S. housing slowdown may continue for a longer period than initially anticipated and cause Weyerhaeuser credit metrics to lag those appropriate for its Baa2 rating for an extended period of time.

It is Moody's expectation that Weyerhaeuser's financial performance will continue to be challenged through 2008, the agency said.

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