S&P rates WestRock A-2

S&P said it assigned an A-2 short-term corporate credit rating to WestRock Co. and affirmed all of the company's ratings.

The outlook remains stable.

S&P also said it assigned an A-2 short-term rating to the company's new $1 billion commercial-paper program.

The company will backstop the program through its $2 billion in aggregate revolving credit facilities due 2020 and 2022.

WestRock will use the commercial-paper program for general corporate purposes.

The ratings reflect a belief that WestRock's business strengths will allow it to weather the challenges posed by weaker consumer packaging volumes and fluctuating raw material prices, the agency said.

These strengths include its leading market positions, broad and differentiated product offerings, productivity gains and the synergies from its recent acquisition of Multi Packaging Solutions Ltd., S&P said.

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