SPOKANE, Wash., July 09, 2018 (GLOBE NEWSWIRE) -- PotlatchDeltic Corporation (NASDAQ:PCH)
Standard & Poor’s Global Ratings (S&P) announced July 6, 2018 an upgrade in PotlatchDeltic’s corporate credit rating outlook
and issue-level ratings on senior unsecured debt to BBB- from BB+. The rating outlook is stable. S&P cited strong demand and
pricing, timberland coverage, high margins and conservative financial policies as factors that led to the upgrade. PotlatchDeltic
is investment grade rated by both S&P and Moody’s Investors Services.
“We are pleased that the company has achieved an investment grade rating by both S&P and Moody’s,” said Mike Covey, chairman
and chief executive officer. “This reflects the benefits of our recent merger with Deltic Timber, the strong fundamentals that
support our businesses and our commitment to maintain conservative financial policies. We are positioned very well and I am excited
about the future prospects for our company,” stated Mr. Covey.
About PotlatchDeltic
PotlatchDeltic Corporation (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of
timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company
also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real
estate development business and a rural timberland land sales program. PotlatchDeltic, a leader in sustainable forest practices, is
dedicated to long-term stewardship and sustainable management of its timber resources. More information can be found at
www.potlatchdeltic.com.
Contact:
(Investors)
Jerry Richards
509-835-1521
(Media)
Mark Benson
509-835-1513
