Moody’s alters Outokumpu view to stable

Moody’s Investors Service said it changed Outokumpu Oyj’s outlook to stable from negative.

“The outlook stabilization follows Outokumpu’s solid results for the fourth quarter of 2020 (Q4-20), ended Dec. 31, 2020, which showed an over 14% year-over-year improvement in stainless steel deliveries increased ferrochrome production and positive effects from cost reductions across most divisions,” the agency said in a press release.

Moody’s also affirmed the company’s B3 corporate family rating, the B3-PD probability of default rating, and the B2 rating on its senior secured notes due June 2024.

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