Fitch rates Sino-Forest

Fitch Ratings said it assigned Sino-Forest Corp. a BB long-term foreign-currency issuer default rating and a BB senior unsecured debt rating.

The outlook is stable.

The ratings are underpinned by the favorable maturity profile of Sino-Forest's asset base, where 68% of the trees are mature, providing stable operating cash flow in the near term, Fitch said.

The ratings also consider its comfortable financial flexibility and healthy liquidity, underpinned by improving operating cash flow and low leverage, the agency said.

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