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S&P Credit Research1795 word report
published Nov 18, 2008
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S&P Credit Research
| Abstract: | A weakening U.S. economy isn't doing the U.S. forest products sector any favors and, largely because of this, Standard&Poor's Ratings Services' outlook for the sector is growing more negative. Our worries in early 2008 were centered on rampant commodity inflation, the ability of producers to pass through price increases, and the housing downturn. These trends translated into negative rating actions for about 35% of the 30 companies we rate. Heading into 2009, we expect this negative credit quality bias to continue because we see no near-term recovery in housing, and the economy is in a recession. Our greatest concern has shifted to how paper and packaging demand will fare. The nearly frozen credit markets are also clouding prospects
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| Brief Excerpt: | RESEARCH Ratings Definitions U.S. Forest Products 2009 Outlook: Will the Recession Tip the Balance? Publication date: 18-Nov-2008 Primary Credit Analyst: Pamela Rice, New York (1) 212-438-7939; pamela_rice@standardandpoors.com A weakening...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
