The credit rating agency Standard & Poors lowers Stora Enso's outlook but maintains credit rating BB. Standard & Poors lowers Stora Enso's outlook to “stable” from previous “positive”. The credit rating BB is kept, reports the news agency Direkt.
The new outlook is justified by the macro economic uncertainty that has led to weaker markets for the paper industry, S&P writes in a statement. In addition, the credit rating agency expects Stora Enso's investments in strategic projects will increase, leading to key ratios being weakened to levels where an upgrade of the rating is unlikely in the short term, according to the press release.
