Standard & Poor’s revises outlook on Norske Skog
June 21 2011 The rating company Standard & Poor's has revised its outlook on Norske Skog's debt to ’stable’ from ’negative’. The long-term corporate rating is affirmed on B-.
Standard & Poor's Ratings Services has revised its outlook on Norway-based forest product group Norske Skog to ’stable’ from ’negative’. At the same time, S&P affirmed the 'B-' long-term corporate credit rating and the 'B' short-term corporate credit rating.The outlook revision reflects Norske Skog's improved liquidity position, following a refinancing exercise and asset disposals in the second quarter of 2011. S&P now view the group's liquidity position as adequate, primarily reflecting materially lower covenant risk and an extended debt maturity profile, Standard & Poor’s wrotes in a press release.
