Moody's Ratings downgrades Clearwater's CFR to Ba3; outlook stable
Moody's Ratings (Moody's) downgraded Clearwater Paper Corporation's (Clearwater) corporate family rating (CFR) to Ba3 from Ba2, and probability of default rating to Ba3-PD from Ba2-PD. The senior unsecured notes rating was confirmed at B1. Previously, the ratings were on review for downgrade. Clearw...Clearwater Paper manufactures consumer tissue, away-from-home tissue (AFH), parent roll tissue, bleached paperboard and pulp. The company is a supplier of private label tissue to retailers and wholesale distributors. In addition, the company produces bleached paperboard and provides services that include custom sheeting, slitting and cutting. The company's segments are: Consumer Products, which manufactures and sells a complete line of at-home tissue products as well as AFH products; and Pulp and Paperboard, which consists primarily of folding carton, liquid packaging, cup and plate products, blister and carded packaging, top sheet, commercial printing grades and hardwood and softwood pulp.
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