Moody's downgrades Norske Skog's corporate family rating to Caa1 from B2, probability of default rating to Caa1 from B3, outstanding bonds rating to Caa1; outlook remains negative
August 8, 2011
– The rating company Moody's has today downgraded from B2 to Caa1 on the corporate family rating (CFR) of Norske Skogindustrier ASA as well as the probability of default rating from B3 to Caa1. Concurrently, Moody's has also downgraded the rating for the group's outstanding bonds to Caa1.
The outlook on the ratings remains negative.