Moody's lowers Millar Western

Moody's Investors Service said it lowered the short-term liquidity rating to SGL-3 from SGL-2 for Millar Western Forest Products Ltd.

The agency said this action reflects its expectation that expected cash consumption is likely to erode Millar Western's liquidity position.

Moody's said it also affirmed the company's B2 corporate family rating, B2 probability of default rating and the B3 rating on its senior unsecured notes due 2021.

The outlook is stable.

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