Scope affirms Elkem’s investment grade rating and changes outlook from stable to negative
Oslo, 21 December 2023 Scope has today affirmed its BBB issuer rating of Elkem ASA and changed the outlook from stable to negative. The affirmed investment grade rating reflects Elkem’s sound financial policy, strong cost position, good global footprint, and integrated position in the silicone industry. The change in outlook reflects the deterioration in revenue and profitability in 2023 and the prospects of a prolonged economic slowdown in the company’s main markets. Scope also affirms the S-2 short-term debt rating, and the BBB senior unsecured debt rating. The rating report