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S&P upgrades Louisiana-Pacific
S&P said it raised the rating on Louisiana-Pacific Corp. to BB from BB-, along with the rating on its senior unsecured debt to BB from BB-.
The outlook is stable.
The upgrades reflect the quick and sudden improvements in pricing over the past 12 months, S&P said.
As a direct result of improved OSB (oriented strand board) pricing and volumes, as well as increased profitability in the company’s engineered wood and siding segments, the company reported an adjusted EBITDA of about $151 million, up from last year's first six months adjusted EBITDA of $22 million, the agency said.
The ratings also consider the company's position as one of the largest North American OSB providers, S&P said.
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