Moody's: M-real view to stable

Moody's Investors Service said it changed the outlook on the ratings of M-real Oyj to stable from negative. The agency also said it affirmed the corporate family rating at Caa1, probability of default rating at Caa1, senior unsecured debt ratings at Caa1, senior unsecured medium-term note program at Caa1 and senior unsecured guaranteed medium-term note program at Caa1 of its majority-owned subsidiary Metsa Group Financial Services Oy.

The change in outlook reflects the recent stabilization in operating performance and cash flow generation visible in second half of 2009, Moody's said.

The agency said the operating performance will be sustained despite continued challenging market conditions in the paper and packaging industry.

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