Moody’s changes Storskogen’s credit rating
Moody’s Investors Service (“Moody’s”) has today announced its downgrading of Storskogen Group AB’s credit rating (corporate family rating) from Ba1 to Ba3, and that the rating remains on review for downgrade.
As communicated at Storskogen’s Capital Markets Day in September 2022, and in the interim report for the third quarter, Storskogen is actively working to improve cash flow and to decrease its net debt/EBITDA ratio (defined as interest-bearing net debt/adjusted RTM EBITDA).
“Our current leverage is within our target range of 2-3x. We have the ambition to decrease our leverage towards the lower end of the range, in order to strengthen our balance sheet. Storskogen’s liquidity is good and there is no refinancing need during 2023, which makes us comfortable with our financial position”, says Lena Glader, CFO, Storskogen.
For more information, please contact:
Oscar Stjerngren, Head of Investor Relations
+46 708 798 769
Michael Metzler, Press Officer
+46 73 305 59 55