S&P ups Weyerhaeuser

S&P said it upgraded its ratings for Weyerhaeuser Co. and its senior unsecured debt to BBB from BBB-, citing a more conservative dividend policy and rebound in lumber and oriented strand board pricing from very low levels in 2019 and early 2020.

“As a result of better pricing, we believe earnings from Weyerhaeuser's wood products segment will increase more than 220% in 2020, causing leverage to decline to less than 3x in 2020 and 2021, from 5.1x at the end of 2019,” S&P said in a press release.

The outlook is stable.

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