Standard & Poor's upgraded Norske Skog
Standard & Poor's Rating Services has revised its long-term credit rating on Norske Skogindustrier ASA to CCC+, from earlier CCC-. S&P has affirmed the 'C' short-term rating. The outlook is changed to stable, and Norske Skog has been removed from the CreditWatch list, where the company has been placed since April 29 2016. According to Standard & Poor's press release, the rating action reflects improved liquidity situation and profit.
Norske Skog does not have interest or covenants linked to the rating level on the existing debt.
The press release from Standard and Poor's is enclosed.
Oslo, 21 July 2016
Communications and Public Affairs
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Norske Skog media:
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Mob: +47 948 55 659