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Moody's: Mercer view positive
Moody's Investors Service said it revised the outlook to positive from stable for Mercer International, Inc. and affirmed the company's B2 corporate family and probability of default ratings and the B3 (LGD5, 71%) rating assigned to its $300 million senior notes due 2017. The short-term liquidity assessment of SGL-2 is unchanged.
The agency said Mercer has made sufficient improvements to its operations and its balance sheet to warrant a positive outlook, and with additional improvement could be upgraded to B1.
The company's improved balance sheet, combined with operational improvements in the areas of input flexibility and green energy at the Celgar Mill in western Canada, enhance the company's ability to withstand a cyclical downturn in the pulp industry, Moody's said.
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