PotlatchDeltic’s credit rating upgraded to BBB-

PotlatchDeltic Corp. has received an investment grade rating of BBB- from Standard & Poor’s Global Ratings.

The credit rating was upgraded from BB+ on the company’s senior unsecured debt.

With the upgrade, PotlatchDeltic now has investment grade ratings from both S&P and Moody’s Investors Services, said Mike Covey, chairman and chief executive officer.

The Spokane-based company’s improved credit outlook “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,” Covey said.