Standard & Poor’s Ratings Services has upgraded Metsä Board Corporation's issuer credit rating to investment grade, from BB+ to BBB-. The outlook of the rating is stable.
The upgrade reflects Metsä Board’s strong performance in 2017 and the expectation of strong cash flows in the coming years. The stability of Metsä Board’s business operations is supported by solid and long-lasting customer relationships as well as the strong market position.
At the same time, Standard & Poor’s raises the ratings of Metsä Board’s senior unsecured bonds, maturing in 2019 and 2027, from BB+ to BBB-.
The upgrade does not have an impact on Metsä Board’s current financing costs.
Jussi Noponen, CFO, tel. +358 10 465 4913
Katri Sundström, VP, Investor Relations, tel. +358 400 976 333
Metsä Board is a leading European producer of premium fresh fibre paperboards including folding boxboards, food service boards and white kraftliners. Our lightweight paperboards are developed to provide better, safer and more sustainable solutions for consumer goods as well as retail-ready and food service applications. We work together with our customers on a global scale to innovate solutions for better consumer experiences with less environmental impact. The pure fresh fibres Metsä Board uses are a renewable resource, traceable to origin in sustainably managed northern forests.The global sales network of Metsä Board supports customers worldwide, including brand owners, retailers, converters and merchants.
In 2017, the company’s sales totalled EUR 1.8 billion, and it has approximately 2,350 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.