Weyerhauser may be removed from Markit CDX investment-grade index following rating downgrade

By Angela McDaniels

Tacoma, Wash., Sept. 3 - Markit Group Ltd. said Weyerhauser Co. has been downgraded by Fitch Ratings and no longer meets the ratings criteria for the Markit CDX North America Investment Grade index.

Weyerhauser's long-term senior unsecured debt and issuer default ratings were lowered to BB+ from BBB-.

The company is working with market participants to determine if Weyerhauser should be removed from the index for the upcoming roll, according to a company news release.

Roll trading will begin Sept. 21.

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