Moody’s downgrades Outokumpu’s corporate family rating and changes the outlook on ratings to negative

Outokumpu Oyj
Press release
March 31, 2020 at 7.05 pm EEST

Moody’s downgrades Outokumpu’s corporate family rating and changes the outlook on ratings to negative

Moody’s Investors Service has decided to downgrade Outokumpu’s corporate family rating to B3 from B2 and the probability of default rating to B3-PD from B2-PD. Concurrently Moody’s downgraded the instrument rating of the Group’s senior secured notes due in 2024 to B2 from B1. The outlook of all ratings has been changed to negative from stable.

For more information:

Investors and media: Reeta Kaukiainen, EVP, Communications and IR, tel. +358 50 522 0924

Outokumpu Oyj

 

Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless steel through customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com