Stora Enso Oyj said Aug. 8 it has ended its credit rating agreement with S&P Global Ratings and has asked the rating agency to withdraw their rating, currently at BB+ with a stable outlook.
The paper products maker also announced it has signed a credit rating agreement with Fitch Ratings, which has assigned a rating of BBB- with a stable outlook.
Fitch in a separate report said the Finland-based company's ratings "reflect its successful transformation towards growth businesses while limiting its exposure to the structurally declining paper market."
Stora Enso's credit rating will continue to be assessed by Moody's, currently at Ba1 with a positive outlook.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global.