Moody’s Reaffirms Outokumpu’s Ba2 Rating, Acknowledges Industry-Leading Financial Strength

Moody’s Reaffirms Outokumpu’s Ba2 Rating, Acknowledges Industry-Leading Financial Strength

(IN BRIEF) Moody’s has reaffirmed Outokumpu’s Ba2 corporate family rating with a stable outlook, maintaining the upgrade it made in May 2023 from a previous Ba3 rating. The decision reflects Moody’s recognition of Outokumpu’s strong financial position and successful profit improvement initiatives. CFO Marc-Simon Schaar highlighted the company’s robust balance sheet, which is currently the strongest in the stainless steel industry. This rating is the best Outokumpu has received since it first obtained a corporate family rating in 2016.

(PRESS RELEASE) HELSINKI, 14-Aug-2024 — /EuropaWire/ — Moody’s has completed its latest review of Outokumpu’s credit rating and has confirmed that the company’s Ba2 corporate family rating, along with its stable outlook, remains unchanged. This follows a significant upgrade in May 2023, when Moody’s elevated Outokumpu’s rating from Ba3 to Ba2, while also shifting the outlook from positive to stable.

Marc-Simon Schaar, CFO of Outokumpu, expressed satisfaction with the rating reaffirmation, stating, “We are very pleased that Moody’s continues to acknowledge Outokumpu’s strong financial standing and the success of our profit improvement initiatives. Our balance sheet remains the strongest in the stainless steel industry, a fact of which we are very proud.”

This reaffirmation highlights Outokumpu’s continued financial stability, marking the best credit rating the company has achieved since it first received a corporate family rating from Moody’s in 2016.

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Tel.: +358 40 351 9840

SOURCE: Outokumpu