S&P upgrades Metsa Board

Standard & Poor's said it raised the long-term corporate credit rating on Metsa Board Corp. to B+ from B.

The agency also said it removed the rating from CreditWatch, where it was placed with positive implications in November.

The outlook is stable.

S&P also said it affirmed the company's B short-term corporate credit rating.

The upgrade reflects the reassessment of the view of the link between Metsa Board and its parent, the Metsaliitto Cooperative, which owns about 62% of the votes in Metsa Board, the agency said.

Metsa Board now is considered strategically important to Metsaliitto Cooperative as defined in the agency's criteria. This results in a one-notch uplift from the assessment of its stand-alone credit profile at B.

The ratings reflect the company's large size and scope and high degree of diversity in terms of end-products exposure, S&P said.

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