SAN FRANCISCO — Standard & Poor’s said Wednesday that it revised its rating outlook on Weyerhaeuser Co. to negative from stable because of the timing of the timber company’s conversion to a real estate investment trust. S&P has a BBB- corporate credit rating on Weyerhaeuser. While the switch to a REIT is unlikely to harm the company’s satisfactory business risk, S&P said in a statement that the lowered outlook regarded “the actual timing of conversion, the size and financing of the cash portion of the required earnings & profit distribution, the level of post-REIT dividends, and the strength of the housing recovery over the next several quarters.”
S&P Lowers Weyerhaeuser Ratings Outlook
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