MeadWestvaco Corporation http://www.alacrastore.com/company-snapshot/MeadWestvaco_Corporation-1010786 Saturday, October 11, 2008 3:19:34 AM 1010786 MeadWestvaco Corporation en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/74773cs/74773norm Basic Industries Short Interest: #H September #### In the two-week period ending September ##th, short interest in the basic industry coverage universe increased #.#% to ###.# million shares.   Short interest for our chemical names...747731740YesD0Article21641125355166749438111705100113421168863113741615031011639911511666197147198204118115711481141648202966645248145corphy581416554Euro Markets Issuers42High Yield59Short Interest33Capital Structure34Companies with Convertibles10/1/2008 9:05:24 PM150In the two-week period ending September 10th, short interest in the basic industry coverage universe increased 0.1% to 339.8 million shares.74773Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/674541spcred/674541normThe latest Summary from S&Pglobalstructuredpubfin10/1/2008 8:57:00 PM175Summary674541United StatesPaper ProductsAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsCorporationsCollateralized Debt ObligationsSummaryThe ratings on Richmond, Va.-based MeadWestvaco reflect the company's diversified product portfolio; leading market position in bleached paperboard; higher-margin beverage, health care, and cosmetics packaging; competitive level of forward integration; good geographic diversity; and meaningful timberland ownership. The ratings also reflect the company's participation in cyclical, competitive, and oversupplied paperboard and packaging markets, substitution risks from other paperboard grades or materials, mature consumer and office products demand, and elevated input costs. MeadWestvaco is a leading producer of paperboard and packaging; converted packaging solutions; school, time management, and office products; and specialty chemicals. The company has greater geographic diversity than most of its North American competitors with 45% of its sales generated outside the U.S. In addition, the recent sale ofUSA58333J58333K58333496154815105020 151050 1510 15MeadWestvaco Corp.359814ASIAEMERGINGEUROMIDAFRLATAMERICAUSAMWVSUMMARYGLOBISSSTRUCPUBFINFICORPCDOCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/newstex/BW-0001-28230787newstex/BW-0001-28230787xml Sep. ##, #### (Business Wire) -- MeadWestvaco Corporation (NYSE: MWV) will release its results for the third quarter #### on Wednesday, October ##, before the market opens. The news release for third quarter results will be available...04000000040160000401600104016018040160489/22/2008 9:25:26 AM180000001800400018008000Business WireBW-0001-28230787MEADWESTVACO CORPE MARK RAJKOWSKIJAMES A BUZZARDJOHN A LUKE JRMWVNewsNewstexhttp://www.alacrastore.com/storecontent/cs/74198cs/74198norm MeadWestvaco #Q## Tearsheet While we hold a favorable view of the company's operating fundamentals, we are concerned that management's comparative inexperience in converting its timberland to higher-and-better use purposes could create...74198488YesC21Tearsheet1001tearsheets/premium169/22/2008 12:06:52 AM15074198Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/T1933026ccbn/T1933026norm... - MeadWestvaco - Chairman, CEO Good morning once again and, Gail, thanks very much again for the opportunity to participate in this important conference. What I'd like to do this morning is bring you up to speed on our strategy, including our progress with execution and our related transformation, as well as comment on the current activities in as well as the outlook as we see it for our markets; second, detail the key profit improvement drivers that we're focused on across all of our businesses today, things that we call controllables; and finally, update you on our land management strategy and, in doing so, update you on the next steps that we are planning. What I would like to do today is share with you the following key messages -- first, we have made and continue to make tremendous strides in transforming our company into a stronger, more focused global packaging company; second, our fundamentals are solid and, while we are clearly seeing some modest signs of softness in certain... 9/16/2008 10:24:00 AMMeadWestvaco54.0000FinalMeadWestvaco at UBS Global Paper & Forest Products Conference TranscriptMWV8:30am ETTranscriptT1933026Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/cs/73976cs/73976norm Spotlight on Weyerhaeuser: Paging All Activists We examine relative value and potential activist risk at Weyerhaeuser in the context of a continued downturn in homebuilding and wood products markets. To better inform our valuation,...589/10/2008 9:06:29 PM500Against the backdrop of an ongoing slump in homebuilding and wood products markets, we provide a relative value update, sum-of-the-parts analysis and assess the potential for and consequences of a REIT conversion at Weyerhaeuser.16739764875YesD9Spotlight4111311137381001corp54Euro Markets Issuers68Earnings Reports - Industrials/Consumer73Spotlight Reports73976Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/665168spcred/665168normThe latest Full Report from S&Pglobalstructuredpubfin8/14/2008 10:35:00 AM400Full Report665168United StatesPaper ProductsEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesAsiaGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsCorporationsCollateralized Debt ObligationsFull ReportLeading shares in several paperboard and packaging markets; Good product and geographic diversity; Value-added specialty packaging portfolio; Good forward integration; and Valuable timberland holdings. Cyclical commodity paperboard markets; Highly competitive consumer packaging markets; Mature consumer and office products demand; Elevated raw material and energy costs; and Aggressive debt leverage. The ratings on Richmond, Va.-based MeadWestvaco reflect the company's diversified product portfolio; leading market position in bleached paperboard; higher-margin beverage, health care, and cosmetics packaging; competitive level of forward integration; good geographic diversity; and meaningful timberland ownership. The ratings also reflect the company's participation in cyclical, competitive, and oversupplied paperboard and packaging markets, substitution risks from other paperboard grades or materials, mature consumer and office products demand, and elevated input costs.USA58333J58333K58333496154815105020 151050 1510 15MeadWestvaco Corp.359814EMERGINGEUROMIDAFRLATAMERICAUSAASIAMWVFULLGLOBISSSTRUCPUBFINFICORPCDOCredit & Investment ResearchS&P Credit Researchhttp://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...731832225YesD0Article6753513425162164100149411270515061137216586311639409911511666157114711691181145202198645114966381648248148corphy1161455854Euro Markets Issuers42High Yield59Short Interest8/14/2008 12:05:00 AM150In the two-week period ending July 28th, short interest in the basic industry coverage universe declined 3.2% to 373.0 million shares.4173183Credit & 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/663490spcred/663490normThe latest News from S&Pglobalstructuredpubfin8/5/2008 3:35:00 PM100News663490United StatesPaper ProductsAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsCorporationsCollateralized Debt ObligationsNewsNEW YORK (Standard&Poor's) Aug. 5, 2008--Standard&Poor's Ratings Services said today it revised its outlook on paper and packaging company MeadWestvaco Corp. to negative from stable and lowered its short-term corporate credit rating to 'A-3' from 'A-2'. At the same time, we affirmed the company's 'BBB' long-term corporate credit rating. The outlook revision reflects our concerns that MeadWestvaco's earnings may not improve as much as previously expected over the next few quarters because of cost inflation and a weakening global economy. The current 'BBB' rating incorporates our expectations that profitability will improve and credit measures will strengthen by year-end 2008. However, the company's adjusted operating margin before depreciation and amortization remains around 12% compared with our expectationUSA58333J58333K58333496154815105020 151050 1510 15MeadWestvaco Corp.359814ASIAEMERGINGEUROMIDAFRLATAMERICAUSAMWVNEWSGLOBISSSTRUCPUBFINFICORPCDOCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/663491spcred/663491normThe latest Research Update from S&Pglobalstructuredpubfin8/5/2008 3:35:00 PM175Research Update663491United StatesPaper ProductsAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaUnited StatesStructured FinancePublic FinanceGlobal IssuersFinancial InstitutionsCorporationsCollateralized Debt ObligationsResearch UpdateOn Aug. 5, 2008, Standard&Poor's Ratings Services revised its outlook on paper and packaging company MeadWestvaco Corp. to negative from stable and lowered its short-term corporate credit rating to 'A-3' from 'A-2'. At the same time, we affirmed the company's 'BBB' long-term corporate credit rating. The outlook revision reflects our concerns that MeadWestvaco's earnings may not improve as much as previously expected over the next few quarters because of cost inflation and a weakening global economy. The current 'BBB' rating incorporates our expectations that profitability will improve and credit measures will strengthen by year-end 2008. However, the company's adjusted operating margin before depreciation and amortization remains around 12% compared with our expectation of more than 13%. In addition,USA58333J58333K58333496154815105020 151050 1510 15MeadWestvaco Corp.359814ASIAEMERGINGEUROMIDAFRLATAMERICAUSAMWVRESUPDSTRUCPUBFINGLOBISSFICORPCDOCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/newstex/PRN-0005-27155194newstex/PRN-0005-27155194xml NORTHBROOK, Ill., Aug. #, #### (PRNewswire-FirstCall delivered by Newstex) -- KapStone Paper and Packaging Corporation (Nasdaq: KPPC) today reported results for the second quarter ended June ##, ####. -- Second Quarter Basic and...040000000401600004016048040160180401600304016001040160058/4/2008 5:18:00 PM1800000018004000180080001801600019000000190010001900104819001040PR Newswire USPRN-0005-27155194KAPSTONE PAPER AND PACKAGING CORPORATIONMEADWESTVACO CORPROGER W STONEKPPCMWVNewsNewstexhttp://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/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/moodys/PR_157872_600063497moodys/PR_157872_600063497htmlGlobal Credit Research Rating Action ## JUL #### Rating Action: MeadWestvaco Corporation Moody's affirms MWV's rating at Ba#; upgrades prior defeased bonds Approximately $#.# billion of rated debt affected New York, July ##, #### --...7/29/2008 12:16:24 PMhtmlMeadWestvaco CorporationMead Corporation (The)Mead Corporation (The); MeadWestvaco Corporation600063497481000150.0000NewsRating ActionPR_157872_600063497Credit & Investment ResearchMoody's Global Credit Researchhttp://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/ccbn/B1879632ccbn/B1879632norm...Solid topline progress and targeted packaging markets did not translate into an equivalent bottom line improvement for the businesses. ... 7/25/2008 12:06:00 AMMeadWestvaco54.0000EditedMeadWestvaco Q2 2008 Earnings Conference Call SummaryMWV10:00am ETBriefB1879632Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1879632ccbn/T1879632norm...Welcome to the MWV second quarter #### earnings conference call. At this time, all participant lines are in a listen-only mode. Later there'll be an opportunity for your questions with instructions being given at that time. As a reminder, today's conference call is being recorded. Digitized replay will be given at the conclusion of today's conference. And for opening remarks on today's conference, I'd now like to turn the call over to the Director of Investor Relations, Jason Thompson. Please go ahead. ... 7/24/2008 12:08:00 PMMeadWestvaco54.0000FinalMeadWestvaco Q2 2008 Earnings Conference Call TranscriptMWV10:00am ETTranscriptT1879632Credit & Investment ResearchThomson StreetEventshttp://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/newstex/HUG-0001-26802913newstex/HUG-0001-26802913xml Jul. ##, #### (Hugin AS delivered by Newstex) -- Companies combine to enhance and expand turnkey integrated drug packaging for global healthcare market July ##, ####: Bilcare Limited (BSE: ###### ) and MeadWestvaco Corp (NYSE: MWV)...0400000004006000040060050400200004002006040160000401600504010000040100010700000007014000070140120700300007003001130000001301000013010005130100047/21/2008 3:21:52 PM18000000180160001802200018015000Hugin ASHUG-0001-26802913MEADWESTVACO CORPMWVNewsNewstex