S&P lowers Industrivarden

Standard & Poor's said it lowered the long- and short-term corporate credit ratings on Industrivarden AB to A-/A-2 from A/A-1. The ratings were removed from CreditWatch, where they had been placed with negative implications on Oct. 13.

The K-1 Nordic scale short-term rating was affirmed.

The outlook is stable.

The downgrade reflects Industrivärden's higher gearing and financial risk tolerance than had been expected, according to the agency.

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