S&P affirms Storskogen’s credit rating
On June 8, S&P Global Ratings (“S&P”) affirmed Storskogen Group AB’s (“Storskogen”) credit rating (corporate family rating) of BB with a negative outlook.
“In recent quarters, we have taken several measures that strengthen the credit quality of Storskogen. Among other things, we have extended our bank facilities, reduced our net debt, improved profitability year-over-year as well as clearly focused on and improved our cash flow. In addition, we have announced a number of divestments that will increase profitability and reduce net debt. As announced today, our next step is to well in advance manage our upcoming 2024 bond maturity, through a tender offer combined with a new smaller bond issue that will extend the average maturity profile”, says Lena Glader, CFO, Storskogen.
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