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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
Norske Skog
Communications and Public Affairs

For further information:

Norske Skog media:
Vice President Corporate Communication
Carsten Dybevig
Mob: +47 917 63 117

Norske Skog financial markets:
Vice President Investor Relations
Tom Rogn
Mob: +47 948 55 659




160721 Standard Poors Credit Rating Norske Skog


Norske Skog AS
PB 294 Skøyen
0213 Oslo

Phone: +47 22 51 20 20
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Norske Skog AS
Karenslyst allé 49
0278 Oslo