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KapStone Paper and Packaging Corporation (KS)

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  • Moody's

    WRKCo Inc. -- Moody's rates WestRock's new senior unsecured notes Baa2

    Moody's Investors Service ("Moody's") assigned a Baa2 rating to WRKCo Inc.'s (WestRock Company ("WestRock") is the ultimate parent of the WRKCo Inc. following the November 2, 2018 acquisition of KapStone Paper and Packaging) proposed $500 million senior unsecured notes maturing in 2033. WestRock intends to use the proceeds from the offering for general corporate purposes including the payment of existing debt (redeem $100 million 2020 notes and reduce outstanding indebtedness under the company's receivables facility and revolver). WestRock's Baa2 issuer rating, senior unsecured rating, Prime-2 short-term rating and stable outlook are unchanged.