Moody's rates White Birch notes B2, revolver B1

Moody's Investors Service said it assigned a B2 rating to White Birch Paper Co.'s proposed $400 million guaranteed senior unsecured notes.

Moody's also assigned a B1 rating to the company's proposed $70 million senior secured bank revolving credit facility, a B2 senior implied rating, a B3 issuer rating and a speculative grade liquidity rating of SGL-3. The outlook is stable.

Moody's said the ratings reflect the company's reliance on a single commodity product, newsprint, and the challenges continuing to impact the paper sector such as over capacity, relatively weak demand and significant competitive pressures.

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