S&P lifts Louisiana-Pacific from junk

Standard & Poor's said it raised its corporate credit and senior unsecured debt ratings on Louisiana-Pacific Corp. to investment grade. The corporate credit rating is raised to BBB-/stable/--, and the senior unsecured debt rating is raised to BBB-.

"The primary catalyst for the upgrade was management's recent articulation of and commitment to a very conservative financial policy that includes dedicating $400 million of cash to future debt reduction, as well as maintaining cash balances of at least $250 million to counter the price volatility and cyclicality of its main business, the manufacture of oriented strandboard," said S&P credit analyst Cynthia Werneth.

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