Event
DBRS Hosts Teleconference on Norbord Downgrade on August 27 at 11 a.m. ET
- Conference Call
-
- Natural Resources
- Toronto
- Aug 27, 2007
- 11 a.m. ET
Details
DBRS will host a conference call on Monday, August 27, 2007, at 11 a.m. ET on Norbord Inc. and Norbord (Delaware) GP I (collectively, Norbord or the Company).
DBRS downgraded the ratings of the Company to BBB (low) from BBB on August 24, 2007, keeping the trend Stable. The rating change reflects the deterioration in oriented strandboard (OSB) market conditions in North America, weaker-than-expected outlook for OSB prices and uncertainty regarding the timing of a recovery in the U.S. housing market. In addition, Norbord’s financial profile is no longer appropriate for a higher rating following the sharp decline in financial performance in H1 2007 and the increased leverage to levels that are aggressive for a cyclical company.
The call will be hosted by Tom Fitkowski, Senior Vice President responsible for Forestry and Paper at DBRS. He will be joined by Jarrett Bilous, Vice President.
Interested callers should dial one of the appropriate numbers listed below at least five minutes prior to the start of the call:
Local callers: +1 416 641 6129
North American toll-free: +1 866 226 1799
Global toll-free: +1 800 2787 2090
A replay of the call will be available until close of business on September 3, 2007. Local and international callers should dial +1 416 695 5800, quoting the confirmation code 3233275#. North American callers should dial 1 800 408 3053, also quoting the confirmation code 3233275#.