05.04.2016 03:11:00
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Weyerhaeuser Company -- Moody's says Weyerhaeuser's New Joint Venture Is Credit Positive
Toronto, April 04, 2016 -- Moody's Investor Service says that Weyerhaeuser Company's (Baa2 stable) joint venture transaction with a group of institutional investors is credit positive because the company will use the proceeds of the transaction to repay debt and reduce leverage (proforma adjusted debt/EBITDA will decline to 4.9x from 5.1x for the 12 months ended December 2015), while the timber asset coverage will remain essentially unchanged.