Outokumpu - Moody's changes outlook on the rating from stable to positive

Rhea-AI Summary

On September 15, 2022, Moody's affirmed Outokumpu Oyj's Ba3 corporate family rating and upgraded its outlook to positive from stable. CFO Pia Aaltonen-Forsell highlighted the company's improved financial positioning, marked by reduced net debt and enhanced profitability, while maintaining liquidity. This rating is the highest credit rating for Outokumpu since attaining Moody's rating in 2016, indicating a stronger resilience in challenging economic environments.

Positive

• Moody's upgraded Outokumpu's outlook to positive from stable.
• Significant reduction in net debt.
• Improved profitability and maintained liquidity.

Negative

• None.

HELSINKI, Sept. 15, 2022 /PRNewswire/ -- Moody's has affirmed the Ba3 corporate family rating of Outokumpu Oyj and changed the outlook to positive from stable.

"We are pleased that Moody's recognizes that Outokumpu is now better positioned financially in a more challenging environment," says Outokumpu CFO Pia Aaltonen-Forsell. "We have significantly reduced our net debt and improved our profitability, while at the same maintaining a sufficient liquidity. Outokumpu is now financially stronger than ever and more resilient to withstand also more challenging economic environments."

Outokumpu's current corporate family rating is the best credit rating since Outokumpu first obtained Moody's rating in 2016.

For more information: 

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669 

Media: Outokumpu media desk, tel. +358 40 351 9840

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SOURCE Outokumpu Oyj

FAQ

What is Outokumpu's current credit rating as of September 2022?

Outokumpu's current credit rating is Ba3 following Moody's affirmation.

What was the change in Moody's outlook for Outokumpu in September 2022?

Moody's changed the outlook for Outokumpu from stable to positive.

Who is the CFO of Outokumpu and what did they say about the rating?

Pia Aaltonen-Forsell is the CFO of Outokumpu, and she noted the company's improved financial position.

Since when has Outokumpu held its credit rating from Moody's?

Outokumpu has held its Moody's credit rating since 2016.

How does the new outlook impact Outokumpu's financial resilience?

The positive outlook indicates that Outokumpu is financially stronger and more resilient in challenging economic conditions.