Moody’s upgrades Outokumpu’s corporate family rating to Ba2 – outlook stable

Outokumpu Oyj
Press release
May 19, 2023 at 9:00 am EEST

Moody’s upgrades Outokumpu’s corporate family rating to Ba2 – outlook stable

Moody’s has upgraded Outokumpu’s corporate family rating to Ba2 from the previous rating of Ba3. At the same time, Moody’s changed the outlook on the rating from positive to stable.

“Outokumpu is now financially stronger than ever, and we have the strongest balance sheet in the stainless steel industry. With our improved capabilities we are able to create value also in more challenging market conditions. We are very pleased that Moody’s recognizes our improved resilience and has upgraded our corporate family rating once again” says CFO Pia Aaltonen-Forsell.

Outokumpu’s current corporate family rating is the best credit rating, since the company obtained its first corporate family rating in 2016 from Moody’s.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +359 400 719 669

Media: Päivi Allenius, VP – Communications & Brand, tel. +358 40 753 7374 or Outokumpu media desk, +358 40 351 9840

Outokumpu Oyj

Outokumpu is the global leader in stainless steel. 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 approximately 8,500 professionals in close to 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com