Axactor ASA: Moody's changes Axactor’s credit Rating

15 Nov 2024 08:32 CET

Moody’s Investors Service (“Moody’s”) has announced to downgrade Axactor ASA's
Corporate Family Rating (CFR) to B3 from B2 and its senior unsecured ratings to
Caa2 from Caa1. Moody’s states in a press release dated 14 November 2024 that
the rationale for the downgrade is Axactor's weakened financial performance in
the currently challenging macroeconomic environment for debt purchasers,
characterized by reduced collections and further exacerbated by the increased
cost of funding. The rating action concludes the review initiated on 17 May
2024.
The full press release from Moody’s is enclosed.

For further information, please contact:
Kyrre Svae, Chief of Strategy & IR, Axactor
Tel: +47 478 39 405
E-mail: kyrre.svae@axactor.com

More information:
Access the news on Oslo Bors NewsWeb site

632351_Rating_Action-Moodys-Ratings-downgrades-14Nov2024-PR_498630.pdf