Standard & Poor's Ratings Services today affirmed its long-term 'BBB' ratings on Norske Skog, but revised its outlook on Norske Skog's long-term ratings to 'negative' from 'stable'. At the same time, the short-term corporate credit rating was lowered to 'A-3' from 'A-2'. All ratings were removed from CreditWatch, where they had been placed on February 5, 2003, with negative implications.

 

The revision to negative outlook does not impact the interest rates of Norske Skog's existing long-term debt or credit facilities.