S&P lifts Mondi to positive

S&P said it revised the outlook on Mondi Group to positive from stable.

The agency also said it affirmed the BBB long-term corporate credit rating on the company and the BBB issue ratings on its outstanding senior unsecured debt.

The outlook revision reflects an expectation that Mondi could maintain strong credit metrics, despite management's intentions to engage in large investments or acquisitions or contemplate extraordinary shareholder returns, S&P said.

The agency said it believes the group will continue to exercise discipline in acquisition multiples could result in rapid de-leveraging, the agency said.

Mondi's business risk profile is considered satisfactory, underpinned by the group's well-invested asset base and excellent profitability, S&P said.

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