S&P's lowers White Birch credit rating, citing likely need for additional equity

摘要

White Birch Paper's credit ratings were lowered today by Standard & Poor's, which also said the company would soon likely need additional financing help from its owners to comply with its debt agreements. "The downgrade reflects the company's weakened liquidity position because of unfavorable trends in the newsprint industry," said S&P's credit analyst Andy Sookram in a release. "As a result, it is likely that the company will need additional equity contributions from its owners in order to remain compliant with bank facility covenants in the near term."