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S&P revises Mercer view to positive
S&P said it revised its outlook on Mercer International Inc. to positive from stable and affirmed its BB- long-term issuer credit rating on the company.
At the same time, S&P affirmed its BB- issue-level rating, with a 3 recovery rating, on the company's senior unsecured notes. The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate 50%) recovery in a default scenario.
The outlook revision follows the company's announcement to acquire pulp assets from DMI Ltd. for US$350 million.
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