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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (19417)	1/7/2002 5:41:27 PM
From: Sully-	Read Replies (1) \| Respond to of 99280

Moody's may cut Georgia-Pacific to junk status NEW YORK, Jan 7 (Reuters) - Georgia-Pacific Corp. (NYSE:GP - news) debt ratings may be cut to junk status, Moody's Investors Service warned Monday, because the forest products giant faces weaker profits and a high debt load as well as uncertainty over its asbestos liability. Moody's said it may cut Atlanta-based Georgia-Pacific's ``Baa3'' senior debt ratings, its lowest investment gr???ects $10 billion of debt for Georgia-Pacific, which makes Dixie cups and Brawny paper towels. Downgrades ordinarily raise borrowing costs, and a downgrade to junk could force institutional investors not permitted to own junk bonds to sell, hurting bond prices. Du Du %? DE?.. inhibiting a planned reduction of debt." Georgia-Pacific became the world's largest tissue paper maker when it bought Fort James Corp. in 2000. Last month, Georgia-Pacific said it was in talks to sell its building products division to Willamette Industries Inc. (NYSE:WLL - news), which is trying to Du Du??orgia-Pacific shares closed Monday at $27.71, down 4 cents on the New York Stock Exchange. They have fallen 13 percent in the last year.