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Date	Document Type	Title	Source
16 Sep 2020	Outlook	Paper, Packaging & Forest Products — Global: Outlook turns positive as strong wood product prices boost earnings	Moody's Investors Service
22 Jun 2020	Sector In-Depth	ESG – Canada: Focus on Indigenous rights increasingly vital for project execution, corporate activities	Moody's Investors Service
15 Jun 2020	Outlook	Paper, Packaging & Forest Products — Global: Outlook remains negative as coronavirus pressures demand and limits price recovery	Moody's Investors Service
15 Jun 2020	Sector In-Depth	Pulp and Paper – Latin America: Liquidity ample even as outbreak, downturn, weak FX rates delay deleveraging	Moody's Investors Service
23 Mar 2020	Outlook	Paper, Packaging & Forest Products — Global: Outlook negative as rebounding wood product prices can't offset other declines	Moody's Investors Service
13 Dec 2019	Outlook	Oil & Gas, Base Metals & Steel, Pulp & Paper - Latin America: 2020 outlooks mostly stable, but negative for pulp and paper producers (slides)	Moody's Investors Service
12 Dec 2019	Outlook	Paper and Forest Products - Global: 2020 outlook negative as earnings declines in the corrugated packaging, commodity paper and market pulp subsectors offset growth in wood products (Slides)	Moody's Investors Service
08 Aug 2019	Sector In-Depth	Corporate Credit Quality - Brazil: Most sectors will remain strong through 2020 even as growth fades	Moody's Investors Service
06 Aug 2019	Sector Comment	Paper, Packaging & Pulp – Europe: Paper packaging to remain under pressure as first-half results reveal mixed picture	Moody's Investors Service
31 May 2019	Sector Comment	Paper, Packaging & Forest Products – Europe: Stora Enso's Oulu paper mill conversion will cut capacity, a credit positive for the sector	Moody's Investors Service
08 May 2019	Sector In-Depth	Cross-Sector - Brazil: Stronger fundamentals trim liquidity risk for most sectors	Moody's Investors Service
21 Mar 2019	Outlook	Paper, Packaging & Forest Products — Global: Outlook goes negative as wood product and pulp prices decline from recent peaks	Moody's Investors Service
19 Feb 2019	Sector Comment	Graphic paper - Europe: Strong 2018 results are credit supportive, but further price hikes may be a struggle	Moody's Investors Service
13 Dec 2018	Outlook	Oil & Gas, Base Metals & Steel, Pulp & Paper - Latin America: 2019 outlooks mostly stable; pulp/paper is positive (slides)	Moody's Investors Service
12 Dec 2018	Outlook	Paper and Forest Products – Global: 2019 outlook changes to stable form positive on lower prices and slower growth (Slides)	Moody's Investors Service
11 Dec 2018	Outlook	Paper, Packaging & Forest Products - Global: Outlook update: Lower prices and weaker demand drive change to stable	Moody's Investors Service
05 Oct 2018	Sector In-Depth	Paper, Packaging & Forest Products - Europe: After deleveraging, companies are likely to focus on new investment prospects	Moody's Investors Service
16 Aug 2018	Sector In-Depth	Non-financial companies - South America: Food, biofuel demand supports agribusiness, but environmental and trade risks abound	Moody's Investors Service
14 Aug 2018	Sector Comment	Graphic Paper - Europe: Higher selling prices boost first-half results of companies' graphic paper operations	Moody's Investors Service
13 Aug 2018	Sector In-Depth	Corporate credit quality – Brazil: Political uncertainty hovers over benign inflation and interest-rate conditions	Moody's Investors Service
07 May 2018	Sector In-Depth	Corporate liquidity - Chile: Refinancing risk continues to improve on business confidence and commodity prices	Moody's Investors Service
03 May 2018	Sector Comment	Agribusiness will benefit from rising food demand, with the help of new techonology	Moody's Investors Service
03 May 2018	Sector In-Depth	Corporates - Global: Agribusiness will benefit from rising food demand, with the help of new technology	Moody's Investors Service
19 Mar 2018	Outlook	Paper, Packaging & Forest Products - Global: Outlook remains stable as escalating costs offset higher prices	Moody's Investors Service
02 Mar 2018	Sector Comment	Paper - Europe: Push for price rises likely to be successful, but only provide temporary relief	Moody's Investors Service
13 Dec 2017	Outlook	Oil & Gas, Steel & Base Metals, and Pulp & Paper - Latin America: 2018 Outlook stable as commodity prices hold steady (slides)	Moody's Investors Service
12 Dec 2017	Outlook	Paper and Forest Products - Global: 2018 outlook stable as growth from wood products and paper packaging offsets commodity paper decline (Slides)	Moody's Investors Service
28 Nov 2017	Sector In-Depth	Wood Products - North America: US duties push up lumber prices, credit positive for all lumber producers	Moody's Investors Service
20 Nov 2017	Sector In-Depth	Non-financial corporates - US: Corporate cash to rise 5% in 2017; top five cash holders remain tech companies	Moody's Investors Service
22 Jun 2017	Sector Comment	Pulp & Paper - Europe: Portugal's wildfire is unlikely to materially push up costs for Iberian producers	Moody's Investors Service
14 Jun 2017	Compilation	Renminbi Bonds Monitor: June 2017	Moody's Investors Service
14 Jun 2017	Sector In-Depth	Cross-Sector – Chile: Low Economic Growth Will Offer Little Improvement for Most Sectors	Moody's Investors Service
01 May 2017	Sector In-Depth	Packaging Industry - US: Shift Away From Dining Out Means Packagers Must Adjust	Moody's Investors Service
23 Mar 2017	Outlook	Global Paper and Forest Products: Escalating Input Costs Will Offset Higher Prices, Limiting Operating Earnings Growth	Moody's Investors Service
08 Feb 2017	Sector Profile	Speculative Grade Non-Financial Corporates - Europe: An Overview of Sector Credit Trends	Moody's Investors Service
13 Dec 2016	Outlook	Paper and Forest Products - Global: 2017 Outlook - Wood Products Growth Offsets Paper Decline (Presentation)	Moody's Investors Service
31 Oct 2016	Special Comment	High Yield Interest: Latin America Edition - October 2016	Moody's Investors Service
28 Sep 2016	Sector In-Depth	Paper and Forest Products - Europe : H1 Results Indicate Another Record Year, But Momentum Is Likely to Slow In 2017	Moody's Investors Service
02 Aug 2016	Special Comment	High Yield Interest: Latin America Edition - August 2016	Moody's Investors Service
01 Aug 2016	Sector In-Depth	Corporate Credit Quality in Brazil: Credit Quality Stable, But At Very Weak Levels	Moody's Investors Service
01 Aug 2016	Sector In-Depth	Corporate Credit Quality in Chile: Lower Confidence Reduces Domestic Consumption and Investments	Moody's Investors Service
23 Jun 2016	Sector In-Depth	Covenants - EMEA: Covenants Will Evolve As Packaging Companies Make Acquisitions	Moody's Investors Service
23 May 2016	Sector In-Depth	Paper - Europe: Nordic Players Are Well Positioned to Weather Long-term Environmental Risks	Moody's Investors Service
20 May 2016	Sector In-Depth	US Non-Financial Companies: Cash Pile Grows 1.8% to $1.68 Trillion; Tech Extends Lead Over Other Sectors	Moody's Investors Service
28 Apr 2016	Special Comment	High Yield Interest: Latin America Edition - April 2016	Moody's Investors Service
13 Apr 2016	Sector In-Depth	Packaging - Europe: EBITDA Growth Will Be Low in 2016-17 and Mainly Driven by Cost Savings & Bolt-ons	Moody's Investors Service
06 Apr 2016	Sector In-Depth	Moody's High-Yield Covenant Database - EMEA: EMEA Paper & Forest Products Issuers Offer Above-Market Covenant Protection	Moody's Investors Service
04 Apr 2016	Sector In-Depth	Paper and Forest Products - Europe: Nordic Companies Lead Paper Sector Transformation	Moody's Investors Service
30 Mar 2016	Outlook	Packaging Industry - US: Outlook Stable With Limited Growth Offsetting Cost Controls, Pricing	Moody's Investors Service
03 Dec 2015	Outlook	Non-Financial Corporates – Latin America: 2016 Outlook - Global and Regional Stresses Strain Credit Quality (Presentation)	Moody's Investors Service

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