Moody's affirms MeadWestvaco

Moody's Investors Service said it affirmed MeadWestvaco Corp.'s corporate family rating and senior unsecured debt rating at Ba1 and the speculative-grade liquidity rating at SGL-1.

The agency said that the affirmation follows MeadWestvaco's release of second quarter 2008 results that were in line with Moody's expectations.

Sales across all four of MeadWestvaco's business segments improved year over year as a result of price increases and product mix; however, operating income and margins were adversely impacted by higher energy, raw material and freight costs, Moody's said.

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