International Paper Company http://www.alacrastore.com/company-snapshot/International_Paper_Company-1008794 Saturday, August 30, 2008 12:19:13 AM 1008794 International Paper Company en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/73336cs/73336norm Georgia-Pacific #Q##: Weak Fundamentals Offset by Asset Sale to Koch Industries We review GP's #Q## results with an emphasis on operating fundamentals and the relationship between GP and GP's de facto financial sponsor, Koch Industries....733361886YesD0Article8633816481137207corphy1668Earnings Reports - Industrials/Consumer42High Yield8/18/2008 10:06:02 PM150Georgia-Pacific reported 2Q08 adjusted EBITDA of $632 million, down from $732 million in 2Q07 and below expectations. We discuss relative value in the context of operating fundamentals and Koch Industries, GP's de facto financial sponsor.73336Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/73183cs/73183norm Basic Industry Short Interest: #H July #### Short interest for our chemical names declined #.#%, with ## of the ## names posting a decrease.  Short interest for the metal and mining names increased #.#%, reaching a new high for the...731832225YesD0Article675351342516216410014941127051506113741216586311639409911511666157114711691181145202198645114966381648248148corphy1161455854Euro Markets Issuers42High Yield59Short Interest8/14/2008 12:05:55 AM150In the two-week period ending July 28th, short interest in the basic industry coverage universe declined 3.2% to 373.0 million shares.73183Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72934cs/72934norm Graphic Packaging #Q##: Defensive End-Market and Merger Synergy Momentum? We review GPK's #Q## earnings with an emphasis on relative value for the equity and supply-demand fundamentals for the company's core consumer packaging markets....729341580YesD0Article86310011163381648207corphy1668Earnings Reports - Industrials/Consumer42High Yield8/7/2008 9:05:48 PM150Graphic Packaging reported second quarter pro forma adjusted EBITDA of approximately $138.1 million, up from $130.4 million in the year-ago quarter and $129.2 million in the quarter prior.72934Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/663997spcred/663997normThe latest Full Report from S&Pglobalstructured8/7/2008 7:04:00 PM400Full Report663997United StatesPaper ProductsLatin AmericaUnited StatesAsiaEmerging MarketsEurope, Middle East, AfricaGlobal IssuersStructured FinanceFinancial InstitutionsCorporationsCollateralized Debt ObligationsCommercial MBSForest ProductsChemicalsFull ReportLeading shares in paper, packaging, and related distribution markets; Expanding geographic reach into markets with higher growth prospects; Attractive global paper cost position; Favorable level of pulp and energy self-sufficiency; and Good level of forward integration. Cyclical and oversupplied industry; Mature or declining North American demand; Significant raw material and energy cost pressures; and Elevated leverage following substantial debt-financed acquisition. The ratings on Memphis, Tenn.-based International Paper Co. reflect its position as the leading global uncoated freesheet manufacturer, leading positions in industrial and consumer packaging, increasing global presence in regions with more attractive growth prospects, and potential for meaningful synergies from the recent acquisition of the containerboard, packaging, and recycling businesses of Weyerhaeuser Co. (WCP&R). The ratings also recognize theUSA46014H46014646014A46014B15105020 151050 1510 15International Paper Co.101221LATAMERICAUSAASIAEMERGINGEUROMIDAFRIPFULLUSA15852S15852T31369315852515852U15852R15852W90553015103020 151030 1510 1515105020 151050 1510 15Champion International Corp.Federal Paper Board Inc.Union Camp Corp.100435100793102399EMERGINGLATAMERICAUSACHAFBOUCCGLOBISSSTRUCFICORPCDOCMBSForestChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/663273spcred/663273normThe latest News from S&Pglobalstructured8/4/2008 3:36:00 PM100News663273United StatesPaper ProductsAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsForest ProductsChemicalsNewsNEW YORK (Standard&Poor's) Aug. 4, 2008--Standard&Poor's Ratings Services lowered its short-term rating on International Paper Co. (IP) to 'A-3' from 'A-2'. At the same time, we affirmed our 'BBB' long-term corporate credit and senior unsecured debt ratings on IP. The outlook is negative. All ratings were removed from CreditWatch with negative implications where they were placed on March 17, 2008 in connection with the company's plan to acquire the containerboard, packaging, and recycling businesses of Weyerhaeuser Co. (WCP&R) in an all-cash transaction valued at $6 billion. "The rating actions follow IP's announcement that it has completed the transaction in the expected manner," said Standard&Poor's credit analyst Pamela Rice. "The affirmation of the long-term corporateUSA46014646014A46014B46014H15105020 151050 1510 15International Paper Co.101221ASIAEMERGINGEUROMIDAFRLATAMERICAUSAIPNEWSGLOBISSSTRUCCORPCDOForestChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/663274spcred/663274normThe latest Research Update from S&Pglobalstructured8/4/2008 3:36:00 PM175Research Update663274United StatesPaper ProductsAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsCorporationsCollateralized Debt ObligationsCommercial MBSForest ProductsChemicalsResearch UpdateOn Aug. 4, 2008, Standard&Poor's Ratings Services lowered its short-term rating on International Paper Co. (IP) to 'A-3' from 'A-2'. At the same time, we affirmed our 'BBB' long-term corporate credit and senior unsecured debt ratings on IP. The outlook is negative. All ratings were removed from CreditWatch with negative implications where they were placed on March 17, 2008 in connection with the company's plan to acquire the containerboard, packaging, and recycling businesses of Weyerhaeuser Co. (WCP&R) in an all-cash transaction valued at $6 billion. The rating actions follow IP's announcement that it has completed the transaction in the expected manner. The affirmation of the long-term corporate credit rating reflects our belief that the acquisition modestly strengthens IP'sUSA46014646014A46014B46014H15105020 151050 1510 15International Paper Co.101221ASIAEMERGINGEUROMIDAFRLATAMERICAUSAIPRESUPDUSA15852T15852W15852S15852U31369315852515852R90553046014215105020 151050 1510 1515103020 151030 1510 15Champion International Corp.Federal Paper Board Inc.Union Camp Corp.International Paper Capital Trust II100435100793102399325962LATAMERICAEMERGINGUSACHAFBOUCC32985ZGLOBISSSTRUCFICORPCDOCMBSForestChemicalsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/newstex/PRN-0005-27148279newstex/PRN-0005-27148279xml MEMPHIS, Tenn., Aug. #, #### (PRNewswire-FirstCall delivered by Newstex) -- International Paper (NYSE: IP) has completed the purchase of the assets of Weyerhaeuser's Containerboard, Packaging and Recycling (CBPR) business for approximately...0600000006009000040000000401600004016005040130000401300404009000040090020200000002002000020020068/4/2008 11:18:06 AM1800000018016000190000001900100019001042PR Newswire USPRN-0005-27148279INTERNATIONAL PAPER COCarol L RobertsJOHN V FARACIINPAPIPNewsNewstexhttp://www.alacrastore.com/storecontent/cs/72470cs/72470norm The Printing & Writing Paper Monthly: July #### We discuss whether the sudden drop in coated paper demand in North America in the past # months could be a possible tipping point for pricing power in the market. We provide an overview...724702703YesD0Article191340392152381169corphy1712251642High Yield54Euro Markets Issuers7/31/2008 10:05:51 PM150In June, coated paper demand in North America continued its poor streak. However, NewPage responded with a large-scale closure.72470Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72552cs/72552norm Owens-Illinois #Q##: Earnings Beat the Street but Shares Take Pummeling We review OI's #Q## earnings with an emphasis on operating fundamentals, relative value and the company's share price. We review key trends in the company's core...725521545YesD0Article61991863176938corphy1642High Yield7/31/2008 10:05:51 PM150Owens-Illinois (B2/B+) reported second quarter adjusted EBITDA of roughly $499 million up from $408 million in the year-ago quarter and $427 million. However despite 20%+ YOY EBITDA growth, OI's shares took a pummeling.72552Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72536cs/72536norm International Paper #Q##: Does Strong Quarter Justify IG Ratings? We discuss IP's #Q## earnings in the context of input cost inflation, ratings risk and recessionary fears. We review relative value, operating fundamentals and the company's...725361731YesD0Article100111378631163382071648corp1668Earnings Reports - Industrials/Consumer54Euro Markets Issuers7/31/2008 4:05:49 PM150International Paper reported 2Q08 adjusted EBITDA of $698 million, up from $668 million in 2Q07 and greatly exceeding expectations. We discuss the upside earnings surprise in the context of ratings risk and recessionary fears.72536Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/B1889040ccbn/B1889040norm...Expect in #Q## to begin receiving business interuption payments from insurance provider to offset loss of Vicksburg profits. ... 7/31/2008 1:06:00 PMInternational Paper Co.54.0000EditedInternational Paper Co. Q2 2008 Earnings Conference Call SummaryIP10:00am ETBriefB1889040Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/T1889040ccbn/T1889040norm...Good morning. My name is Crystelle and I will be conference operator today. At this time, I would like to welcome everyone to the International Paper second quarter #### earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks there will be a question-and-answer session. (OPERATOR INSTRUCTIONS) I would now like to turn the call over to Tom Cleves, Vice President of Investor Relations. Please go ahead. ... 7/31/2008 12:06:00 PMInternational Paper Co.54.0000FinalInternational Paper Co. Q2 2008 Earnings Conference Call TranscriptIP10:00am ETTranscriptT1889040Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/newstex/PRN-0005-27063752newstex/PRN-0005-27063752xml MEMPHIS, Tenn., Jul. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- International Paper (NYSE: IP) today reported preliminary second-quarter #### net earnings of $### million ($#.## per share) compared with net earnings of...040000000401600004016048040160180401600104016005040190000401900304013000040130040400700004007008040100000401000604009000040090027/31/2008 7:23:40 AM1800000018008000180040001801600018020000190000001900200019002012190020071900100019001042PR Newswire USPRN-0005-27063752INTERNATIONAL PAPER COJOHN V FARACIINPAPIPNewsNewstexhttp://www.alacrastore.com/storecontent/cs/72466cs/72466norm Temple-Inland #Q##: Will Packaging Offset Forest Products & Event Risk? We review TIN's #Q## earnings upside surprise with an emphasis on operating fundamentals, event risk and relative value. Additionally, we examine near break-even...724661849YesD0Article11371342863381001207corphy1654Euro Markets Issuers42High Yield7/30/2008 9:05:00 PM150Temple-Inland reported 2Q08 estimated adjusted EBITDA of roughly $78 million, down from $106 million but exceeding expectations. We review the earnings surprise focusing on operating fundamentals, event risk and relative value.72466Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72418cs/72418norm Smurfit-Stone #Q##: Earnings Miss But is Relative Value in Tact? We review #Q## earnings for SSCC with an emphasis on relative value, operating fundamentals and liquidity. We discuss the earnings miss in the context of recent tightening...1668Earnings Reports - Industrials/Consumer42High Yield7/29/2008 11:07:00 PM150Smurfit-Stone reported 2Q08 adjusted EBITDA of $107 million, missing Wall Street consensus and down sharply from $193 million in the year-ago quarter. We discuss the earnings miss in the context of recent tightening for SSCC's 5-year CDS.724181441YesD0Article1137134286338207corphy72418Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72274cs/72274norm MeadWestvaco #Q##: Ratings and Event Risk Review We review MWV's #Q## earnings with an emphasis on relative value, operating fundamentals and the company's financial condition. We also examine the potential for greater timberland disclosure...722741443YesD0Article411137100138corphy1642High Yield7/28/2008 12:06:00 AM150MeadWestvaco reported 2Q08 estimated adjusted EBITDA of roughly $220 million, up slightly from $210 million in the year-ago quarter and narrowly exceeding expectations. We discuss relative value in the context of ratings and event risk.72274Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72177cs/72177norm Packaging Corp. #Q##: Shareholder Enhancement Concerns Continue We review PKG's #Q## earnings with an emphasis on relative value, operating fundamentals and the company's financial condition. We also consider the potential for shareholder...721771598YesD0Article86313421163381648corphy1668Earnings Reports - Industrials/Consumer42High Yield7/24/2008 9:05:51 PM150Packaging Corp. reported second quarter adjusted EBITDA of $107 million, down from $119 million in the year-ago quarter, but in line with expectations. We discuss relative value in the context of further potential shareholder enhancement.72177Credit & Investment ResearchCreditSightsRUSSIA - Gebrueder Knauf Verwaltungsgesellschaft{Knauf} of Germany agreed to raise its stake to ##% from ##%, by acquiring a ##% interest, in OAO St. Petersburg Cardboard & Printing Plant (OAO KPK), a Kommunar-based manufacturer of waste paper box board, from Ilim Holding SA. Terms were not disclosed.7/24/2008 2:29:23 PM36842N83258Y36842N460146Gebrueder Knauf Verwaltungsgesellschaft{Knauf}OAO St. Petersburg Cardboard & Printing Plant (OAO KPK)Gebrueder Knauf Verwaltungsgesellschaft{Knauf}International Paper Cohttp://www.alacrastore.com/storecontent/Thomson_M%26A/Knauf_acquires_OAO_St_Petersburg_Cardboard_from_International_Paper_Co-1998080040sdc/19980800401998080040Copyright © 2008, Thomson Financial, All Rights ReservedStone, Clay, Glass, and Concrete ProductsGermanyGypsum products3275FFForeignPrivate2621:Paper mills3275:Gypsum products2621:Paper mills3275:Gypsum productsPaper and Allied ProductsRussian FedDie-cut paper and paperboard and cardboard2675FFForeignSubsidiary322675001Mnfr plasterboard,fiberboardMnfr,whl paper pkg prodUnspecifiedStock1030357001Jul 24 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.00000Gebrueder KnaufVerwaltungsgesellschaft{Knauf}, located in Germany,manufactures plasterboard,fiberboard, and relatedbuilding products.Gebrueder Knauf Verwaltungsgesellschaft{Knauf }, located inGermany, manufactures plasterboard, fiberboard, and relatedbuilding products.Gebrueder Knauf Verwaltungsgesellschaft{Knauf }, located in Germany, manufactures plasterboard, fiberboard, and related building products.1.000002.000003.000004.000005.000006.000007.000008.000009.00000OAO St. Petersburg Cardboard &Printing Plant (OAO KPK),located in Kommunar, Russia,manufactures waste paper boxboard. The company alsomanufactures and printsdifferent colorful cardboardboxes and disposable paperplates.OAO St. Petersburg Cardboard & Printing Plant (OAO KPK),located in Kommunar, Russia, manufactures waste paper boxboard. The company also manufactures and prints differentcolorful cardboard boxes and disposable paper plates.OAO St. Petersburg Cardboard & Printing Plant (OAO KPK), located in Kommunar, Russia, manufactures waste paper box board. The company also manufactures and prints different colorful cardboard boxes and disposable paper plates.0.000000.000000.000000.00000Y18 Jul 08Fri, 18 Jul 2008 00:00:00 ESTDate Announced: 07/18/2008Date Effective:Acq. Maj. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.0000035.0000056.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.00000RUSSIA - Gebrueder KnaufVerwaltungsgesellschaft{Knauf}of Germany agreed to raise itsstake to 91% from 35%, byacquiring a 56% interest, inOAO St. Petersburg Cardboard &Printing Plant (OAO KPK), aKommunar-based manufacturer ofwaste paper box board, fromIlim Holding SA. Terms werenot disclosed.RUSSIA - Gebrueder Knauf Verwaltungsgesellschaft{Knauf} of Germany agreed to raise its stake to 91% from 35%, by acquiring a 56% interest, in OAO St. Petersburg Cardboard & Printing Plant (OAO KPK), a Kommunar-based manufacturer of waste paper box board, from Ilim Holding SA. Terms were not disclosed.RUSSIA - Gebrueder Knauf Verwaltungsgesellschaft{Knauf} of Germany agreed to raise itsstake to 91% from 35%, by acquiring a 56% interest, in OAO St. Petersburg Cardboard &Printing Plant (OAO KPK), a Kommunar-based manufacturer of waste paper box board, fromIlim Holding SA. Terms were not disclosed.RUSSIA - Gebrueder Knauf Verwaltungsgesellschaft{Knauf} of Germany agreed to raise its stake to 91% from 35%, by acquiring a 56% interest, in OAO St. Petersburg Cardboard & Printing Plant (OAO KPK), aKommunar-based manufacturer of waste paper box board, from Ilim Holding SA. Terms were not disclosed.RUSSIA - Gebrueder Knauf Verwaltungsgesellschaft{Knauf} of Germany agreed to raise its stake to 91% from 35%, by acquiring a 56%interest, in OAO St. Petersburg Cardboard & Printing Plant (OAO KPK), a Kommunar-based manufacturer of waste paper box board, from IlimHolding SA. Terms were not disclosed.Pending0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Pending-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000002656:Sanitary food containers, except folding2672:Coated and laminated paper, nec2675:Die-cut paper and paperboard and cardboard2679:Converted paper and paperboard products, nec2752:Commercial printing, lithographic322675001Germany3275ForeignPrivate0831:Forest nurseries and gathering of forest products2421:Sawmills and planing mills2435:Hardwood veneer and plywood2436:Softwood veneer and plywood2611:Pulp mills2621:Paper mills2631:Paperboard mills2679:Converted paper and paperboard products, nec5031:Lumber, plywood, millwork, and wood panels5111:Printing and writing paper5113:Industrial and personal service paper3144001New YorkUnited States2621TennesseePublicIP0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/cs/71972cs/71972norm Relative Value in Industrial Packaging Markets: June #### We review the latest industrial packaging data with an emphasis on the recently implemented $## per ton price hike, as well as the supply outlook. Additionally, we focus on...719722098YesD0Article116313426111378639911769207381001corphy1642High Yield54Euro Markets Issuers150Box shipments in June declined 3.5% on an average week basis, comparing negatively to flat shipment data in May but favorably to April's decline of roughly 7.6%.7/22/2008 2:07:00 AM71972Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71834cs/71834norm Crown Holdings #Q##: Global Exposure Offers Shelter From the Storm We review CCK's impressive #Q## earnings with an emphasis on relative value, event risk, operating fundamentals, financial condition and currency exposure. We examine...718341774YesD0Article61991863381769207corp1668Earnings Reports - Industrials/Consumer7/17/2008 9:06:15 PM150Crown Holdings reported second quarter adjusted EBITDA of roughly $303 million, up from $250 million in the year-ago quarter and well in excess of expectations.71834Credit & Investment ResearchCreditSights