U.S. Building Boom Helps Lumber Industry Cut Its Borrowing Costs
- Credit ratings have improved following worsening last year
- Ratings likely to keep rising, Credit Benchmark says
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The U.S. home-building boom is helping North American forestry companies secure better and cheaper borrowing, according to Credit Benchmark.
With lumber prices more than tripling from a year ago, credit ratings for forestry companies in the U.S. and Canada have improved and are likely to keep rising over the next year or two, said David Carruthers, head of research at Credit Benchmark.