DBRS rates West Fraser notes BBB (low)

DBRS said it assigned a rating of BBB (low) with a stable trend to West Fraser Timber Co. Ltd.’s offering of $300 million senior unsecured notes with a coupon rate of 4.35% due Oct. 15, 2024.

The notes are senior unsecured obligations of the company and rank equally with all of its other senior unsecured indebtedness, DBRS said, and rank senior to the company’s subordinated indebtedness.

The proceeds will be used to repay its outstanding 5.2% senior unsecured notes that recently matured, the agency said.

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