S&P removes Rayonier ratings from CreditWatch

S&P said it removed Rayonier Advanced Materials Inc.’s B- rating from CreditWatch, where it was placed with negative implications on Aug. 21.

The agency also affirmed the B- rating.

The affirmation and removal from CreditWatch follow an amended credit agreement that provided Rayonier with covenant relief since it was set to breach its covenants without the amendment, S&P said.

The outlook is stable.

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