S&P: Temple-Inland unaffected

Standard & Poor's said its ratings on Temple-Inland Inc. (BBB/negative/A-3) remain unchanged following the company's announcement that it has received notice that, contrary to a prior notice, financier Carl Icahn does not intend to nominate candidates for the board of directors at the company's annual shareholder meeting scheduled for May 6.

If after the shareholder meeting S&P deems the threat of any credit-adverse move by Icahn or others to have receded and there are no other negative developments, S&P said it will raise the short-term ratings to A-2 and change the outlook to stable.

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