Weyerhaeuser Company -- Moody's says International Paper's Acquisition of Weyerhaeuser's Pulp Assets is credit positive for both companies

Toronto, May 02, 2016 -- Moody's Investor Service says that International Paper Company's (IP, Baa2 stable) agreement to acquire Weyerhaeuser Company's (WY, Baa2 stable) cellulose fibers business for about $2.2 billion is credit positive for both companies. The addition of WY's high quality pulp mills will make IP the largest producer of fluff pulp in the world, generating cost synergies, while only modestly increasing its leverage. At the same time, the cash proceeds received by Weyerhaeuser will allow them to significantly reduce their leverage following their recent acquisition of Plum Creek Timber Company.

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