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Moody's rates Longview notes B2
Moody's Investors Service said it assigned Longview Fibre Paper and Packaging, Inc.'s proposed senior secured note offering a B2 (LGD4, 51%) rating and the company a corporate family rating of B2.
The outlook is stable.
The ratings reflect the expectations of strong leverage metrics for the rating, margin stability through steady end-markets, an overfunded pension plan and strong customer relationships, the agency said.
Longview's ratings are constrained by its small size, single product focus, exposure to volatile input costs and the company's limited operational flexibility with only one mill site, the agency added.
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