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Cerberus’ NewPage Turns ‘Increasingly Toxic,’ CreditSights Says

NewPage Corp., the coated-paper maker owned by Cerberus Capital Management LP, is looking “increasingly toxic,” according to CreditSights Inc.

“In light of the latest coated-paper data in North America we now believe the impetus on the operating front has slowed,” and the firm “looks increasingly toxic,” analysts Rahul Gandhi and Chris Ucko at the New York based bond-research firm said in an Aug. 25 report. Investors should “stay out of the name,” they said.