Verso Paper Holdings LLC -- Moody's says Verso's facility closures will strain liquidity and synergies

Toronto, August 21, 2015 -- Moody's Investors Service says Verso Paper Holdings LLC's (B3 stable) announcement that it will shut down a pulp dryer and coated paper machine and indefinitely idle a paper mill will further strain the company's already weak liquidity position and adds further uncertainty in the company's ability to achieve its synergy target. However, the optimization of the remaining capacity at the company's Androscoggin mill in Maine should led to a reduction in costs with the elimination of fixed charges and high cost peak power consumption.

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