Moody’s changes Storskogen’s credit rating
Moody’s Investors Service (“Moody’s”) has today announced its downgrading of Storskogen Group AB’s credit rating (corporate family rating) from Ba3 to B1, with a negative outlook. As earlier communicated, including at Storskogen’s Capital Markets Day in September 2022, the company is working actively to improve cash flow and decrease its net debt/EBITDA ratio (defined as interest-bearing net debt/adjusted RTM EBITDA). During the fourth quarter 2022, cash flow was significantly strengthened, with a cash conversion of 109 percent, a reduction of interest-bearing net debt and a decrease in