08 Apr Clearwater Paper Credit Agreement
“We remain focused on two priorities: the health and safety of our employees and the safe operation of our facilities to meet the needs of our customers,” said Arsen Kitch, President and Chief Executive Officer. “In the second quarter, we achieved a quarterly record of Adjusted EBITDA due to increased demand and fabric production, stable cardboard production and lower input costs, resulting in significant cash flow that was used to reduce our net debt.” The Company`s new unsecured bonds, valued at $275 million, are below the CFR, reflecting the subordinated position of bondholders behind the company`s US$250 million revolving credit facility and a $239 million secured loan, using Moody`s Loss-given`s default method. The regulatory information contained in this press release applies to the credit rating and, if applicable, to the corresponding rating outlook or the revision of the rating. Moody`s Investors Service, Inc., a wholly owned subsidiary of Moody`s Corporation`s rating agency (“MCO”), heresafter states that most bond issuers (including corporate and common bonds, bonds, bonds, bonds and commercial securities) and preferred shares rated by Moody`s Investors Service, Inc. agreed to pay Moody`s Investors Service, Inc. prior to the sale of a rating. , for ratings ratings. which are provided by Moody`s Fees in the range of 1,000 to about 2,700,000 dollars. MCO and Moody`s Investors Service will also hold policies and procedures to address the independence of Moody`s Investors Service Ratings and rating process. Information on certain links that may exist between MCO directors and rated entities, as well as between companies with ratings under Moody`s Investors Service that have also publicly declared a 5% interest in the SEC, is published annually by www.moodys.com under the title “Investor Relations Governance – Corporate Governance – Director and Shareholder Policy Affiliation.” SPOKANE, Wash.–(BUSINESS WIRE)– Clearwater Paper Corporation (NYSE: CLW), a leading supplier of quality fabrics and bleached cardboard products, today announced an interim update to the company`s outlook for the second quarter of 2020. Additional terms only for Japan: Moody`s Japan K.K. (“MJKK”) is a wholly owned subsidiary of Moody`s Group Japan G.K., wholly owned by Moody`s Overseas Holdings Inc., a wholly owned subsidiary of MCO.
Moody`s SF Japan K.K. (“MSFJ”) is a wholly-based subsidiary of the rating agency MJKK. MSFJ is not a nationally recognized statistical rating organization (NRSRO). Therefore, MSFJ`s ratings are non-NRSRO ratings. Non-DSRO ratings are awarded by a company that is not an NRSRO and, therefore, the assessed obligation is not eligible for certain types of treatment under the United States.