S&P Global Ratings has lowered its long- and short-term issuer credit ratings on Metso Corporation to 'BBB-/A-3'. Metso credit ratings remain on CreditWatch, where S&P placed them with negative implications on July 9, 2019. Metso’s credit rating will continue as the rating of the future Neles Corporation, which is due to be formed in Metso’s partial demerger, that is currently planned to take place on June 30, 2020.
Simultaneously, S&P affirmed the preliminary 'BBB-' rating for Metso Outotec but revised its outlook to negative from stable. As previously communicated, Metso has received consent to transfer its senior unsecured notes to Metso Outotec at the closing of the transaction.
www.metso.com
