DBRS upgrades West Fraser Timber

DBRS said it upgraded the issuer rating and unsecured debentures rating of West Fraser Timber Co. Ltd. to BBB from BBB (low).

The ratings upgrade follows the improved outlook for wood products combined with the company's continued commitment to conservative financial policy, leading to much stronger credit metrics and the improved size and product/market diversification of the company, following the acquisition of Norbord Inc. (Norbord),” the agency said in a press release.

In 2022, DBRS said it sees West Fraser generating a robust operating cash flow, if the current market conditions continue, and that capital expenditures will be higher than in 2021.

The trend remains stable.

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