Moody's cuts Koch Resources debt rating on purchase

Newswire

NEW YORK, Jan 25 (Reuters) - Moody's Investors Service on Wednesday cut its ratings on Koch Resources LLC, citing the acquisition of Georgia Pacific Corp. by its parent company Koch Industries, Inc. for approximately $21.7 billion, including assumed debt. Koch Industries completed its tender offer for the outstanding shares of Georgia-Pacific, the maker of Quilted Northern bathroom tissue and Brawny paper towels, on Dec. 20, paying $48 per share. The downgrade reflects the increased ...

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