S&P: M-real on watch

Standard & Poor's said it placed its BB- long-term corporate credit rating on M-real Corp. on CreditWatch with negative implications.

At the same time, the B short-term corporate credit rating was affirmed, the agency said, noting that the CreditWatch placement primarily reflects M-real's continued weak operating and financial performance and increased uncertainties about the pace and strength of improvements in this regard.

These weaknesses stem from continued tough market conditions for the group's core businesses, higher input costs and M-real's weak internal operating performance, S&P added.

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