Ahead of the Bell: Smurfit-Stone debt rating cut - Consumer Finance Hub

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Debt Research News

HOME :: RESEARCH :: DEBT :: NEWS:: DEC 2008
Ahead of the Bell: Smurfit-Stone debt rating cut

Standard & Poor's Ratings Services on Monday lowered its debt rating of Smurfit-Stone Container Corp. after the containerboard maker warned of weakening earnings. The agency lowered the Chicago-based company's corporate credit rating to B from B+ and put all the company's ratings on "CreditWatch" with negative implications. Standard & Poor's credit analyst Pamela Rice said the action follows the company's warning that its fourth-quarter 2008 earnings, excluding unusual items, will be significantly lower than its third quarter results.

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