S&P cuts Weyerhaeuser view to negative

Standard & Poor's said it revised its outlook on Weyerhaeuser Co. to negative from stable and affirmed the ratings on Weyerhaeuser, including the BBB- corporate credit rating.

"The outlook revision on Weyerhaeuser Co. follows the company's announcement that it intends to acquire 645,000 acres of timberlands for $2.65 billion," said S&P credit analyst Tobias Crabtree in a news release. "Although we expect the acquisition to be funded with a balanced mix of debt and equity, key credit measures will initially be weaker than we had previously anticipated, with leverage above 4x EBITDA on a pro forma basis in 2013."

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