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27.07.2016 11:49:13
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Moody's upgraded Norske Skog
Moody's has today upgraded Norske Skogindustrier ASA's corporate family rating to Caa2 from Caa3, and the probability of default rating (PDR) to Caa2-PD from Caa3-PD. The outlook on all ratings is stable.
According to Moody's press release, the rating action reflects improved gross operating earnings, higher capacity utilization rates, and successful debt exchange and bond redemption earlier this year.
Norske Skog does not have interest or covenants linked to the rating level on the existing debt.
The press release from Moody's is enclosed.
Oslo, 27 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 | Norske Skog financial markets: Vice President Investor Relations Tom Rogn Mob: +47 948 55 659 |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norske Skog via Globenewswire
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