DBRS changes West Fraser Timber view

DBRS said it confirmed the issuer rating and unsecured debentures rating of West Fraser Timber Co. Ltd. at BBB (low) and changed the trends to positive from stable.

The agency said the actions reflect West Fraser’s continued strong performance, ongoing commitment to maintaining a conservative financial profile and its solid business risk profile, which lead to credit metrics that are very robust for the current ratings, despite the current softwood lumber export duties.

The company’s low-cost operations, which have enabled positive operating cash flow generation even during market downturns, the good progress on the integration of Gilman Cos. and its access to sufficient high-quality wood fiber also support the rating, DBRS added.

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