S&P elevates Mondi Group

S&P said it raised its long-term issuer credit rating on Mondi Group to BBB+ from BBB.

The outlook is stable.

The agency also raised the issue ratings on the outstanding senior unsecured debt issued by Mondi Finance plc to BBB+ from BBB.

The agency said the upgrade reflects the recently announced dividends, ordinary and special, and the Powerflute acquisition, as well as a view that Mondi's financial policy will remain conservative.

“We believe that the group will continue to exercise a disciplined acquisition strategy,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.