Outokumpu – Moody’s upgrades Outokumpu’s issuer corporate family rating to B2


Outokumpu Oyj
Press release
May 22, 2017 at 3.30 pm EET
 

Moody’s has upgraded Outokumpu’s issuer corporate family rating to B2 from the previous rating of B3 and probability default rating to B2-PD from the previous B3-PD. Moody’s has also upgraded the ratings for Outokumpu’s senior secured notes, due 2019 and 2021, to B1 from the previous rating of B2. The outlook on the ratings is positive.

Says CFO Chris de la Camp: “We are pleased that Moody’s has noted our improved profitability and strengthened balance sheet and has upgraded our rating. Reducing the net debt further remains a key objective and as the next milestone, we have set a target to reduce our net debt to below 1.1 billion euro by the end of this year.”

Outokumpu first obtained Moody’s ratings in March 2016.

For more information:

Investors: Tommi Järvenpää, tel. +358 9 421 3466, mobile +358 40 576 0288

Media: Reeta Kaukiainen, tel. +358 50 522 0924

Outokumpu Group
  



Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs some 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki.  www.outokumpu.com      outokumpu.com/stainless-news      choosestainless.outokumpu.com


Attachments

Moody's 22052017 ENG.pdf