S&P reduces ratings for I-P
. Standard & Poor's Ratings Services (S&P), New York, New York, USA, has lowered its short-term corporate credit and commercial paper ratings to A-3 from A-2 on forest products giant International Paper (I-P
), Stamford, Connecticut.
Weyerhaeuser, Federal Way, Washington, USA, announced that it, International Paper (I-P), Stamford, Connecticut, and Georgia-Pacific, Atlanta, Georgia, have agreed with plaintiffs to settle an antitrust class action filed in 1999 in federal court in the Eastern District of Pennsylvania.
I-P's share of the total settlement is approximately US$ 24 million.