Sylvamo to pay down debt with $60 million released from escrow

Memphis, tenn.--(business wire)---- $slvm #theworldspaperco--sylvamo (nyse: slvm), the world's paper company, now has access to $60 million initially put in escrow for disputed goodwill tax deductions in brazil which it intends to use to pay down debt. the company's lenders agreed to eliminate the escrow after a brazilian court ruled in its favor. the ruling—covering two-thirds of the amount disputed in several proceedings—is subject to appeal. due to the potential liability of the goodwill tax deductions, lenders limited.
SLVM Ratings Summary
SLVM Quant Ranking