S&P: Weyerhaeuser notes BBB-

Standard & Poor's said it assigned a BBB- rating to Weyerhaeuser Co.'s proposed $500 million senior unsecured notes due 2023.

The company is issuing the notes under its shelf registration filed June 28, 2012, S&P said.

The ratings reflect the company's satisfactory business risk profile based on its position as one of the largest companies in the timberlands, wood products and cellulose products segments, Tobias Crabtree, an S&P analyst, said in a news release.

The proceeds from the proposed $500 million of senior notes due 2023 and a proposed $550 million seven-year senior unsecured term credit facility due 2020 will be used to repay all of the debt assumed in connection with the July 2013 acquisition of Longview Timber Holdings Corp., Crabtree said.

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