Moody's Ratings affirms Cascades' Ba2 CFR; outlook stable

Moody's Investors Service has affirmed Cascades Inc.'s Corporate Family Rating (CFR) at Ba2, with a stable outlook, as of June 30, 2025. The rating reflects the company's credit profile, including its debt structure and financial obligations. As of that date, Cascades had total long-term debt of approximately C$2,127 million, with a net debt of C$2,104 million after accounting for cash and cash equivalents. The company's debt includes a mix of secured and unsecured notes, with maturities extending through 2030. Moody's current credit ratings for Cascades include a Baa3 rating for senior secured debt and a Ba2 rating for senior unsecured debt. The stable outlook indicates that while the company faces moderate credit risks, its financial position is expected to remain consistent in the near term. Investors are advised to review the company's debt instruments and financial covenants for a comprehensive understanding of its credit obligations.