Toronto, August 03, 2016 -- Moody's Investors Service views Rayonier A.M. Products Inc. ("RYAM") $125 million mandatory convertible preferred stock issue as a positive credit development. As RYAM intends to use the proceeds for general corporate purposes, the transaction will improve the company's liquidity and may contribute to a modest level of improvement in the company's credit metrics. RYAM's Ba3 Corporate Family Rating, SGL-1 Speculative Grade Liquidity Rating, and stable rating outlook are unchanged.
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