Fitch affirms Weyerhaeuser

Fitch Ratings said it affirmed the long- and short-term issuer default ratings and outstanding debt ratings for Weyerhaeuser as follows: long-term issuer default rating at BBB, bank revolver BBB, senior unsecured debt BBB, short-term issuer default rating F2 and commercial paper F2, and Weyerhaeuser Real Estate Co.'s short-term issuer default rating F2 and commercial Paper F2.

The agency said that the rating affirmation follows Weyerhaeuser's announcement that it is selling its containerboard, packaging and recycling business for $6 billion to International Paper.

The outlook is negative.

Fitch said that the ratings are based on Weyerhaeuser's size, moderately levered balance sheet and the company's market position in a mature and competitive industry.

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