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S&P changes Industrivarden to positive
Standard & Poor's said it revised its outlook on Sweden-based investment holding company Industrivarden AB to positive from stable.
At the same time, the agency affirmed the A-/A-2 long- and short-term ratings and the K-1 short-term Nordic regional scale rating.
S&P said the outlook change follows the recent appointment of Fredrik Lundberg as chairman of the board of Industrivarden. The agency regards Lundberg as highly averse to financial leverage and thinks that his appointment could result in a permanently strengthened financial risk profile for the company.
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