S&P: Weyerhaeuser view to stable

Standard & Poor's said it revised the outlook on Weyerhaeuser Co. to stable from negative.

The agency also said it affirmed its BBB- long-term corporate credit rating and A-3 short-term corporate credit rating.

The ratings reflect a view that Weyerhaeuser's recently improved operating results, earnings and cash flow should be sustainable over the next several quarters despite the prospects for a continued housing slump, S&P said.

The agency said it expects the company's timber, cellulose fibers and real estate businesses to continue to generate positive cash flow.

S&P said it believes operating losses in its wood products manufacturing business will narrow because of cost reductions.

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