Capital/Financing Update • Nov 15, 2024
Capital/Financing Update
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Axactor ASA: Moody's changes Axactor’s credit Rating
Moody’s Investors Service (“Moody’s”) has announced to downgrade Axactor ASA's Corporate Family Rating (CFR) to B3 from B2 and its senior unsecured ratings to Caa2 from Caa1. Moody’s states in a press release dated 14 November 2024 that the rationale for the downgrade is Axactor's weakened financial performance in the currently challenging macroeconomic environment for debt purchasers, characterized by reduced collections and further exacerbated by the increased cost of funding. The rating action concludes the review initiated on 17 May 2024.
The full press release from Moody’s is enclosed.
For further information, please contact:
Kyrre Svae, Chief of Strategy & IR, Axactor
Tel: +47 478 39 405
E-mail: [email protected]
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