Moody's gives Wood Resources floaters B3

Moody's Investors Service said it rated Wood Resources LLC's new $75 million issue of floating-rate notes B3 and assigned a stable outlook.

The company was also assigned a speculative-grade liquidity rating of SGL-2, the agency said.

The B3 rating accounts for the combination of the company's very modest aggregate-scale and its narrow product line and geographic focus that together represent a B rating profile for a company operating in the paper and forest products sector, Moody's said.

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