Moody's may cut Stora Enso to junk

Moody's Investors Service said it placed the Baa3 senior unsecured rating for Stora Enso Oyj and its P-3 short-term rating under review for possible downgrade.

The company's metrics are currently weak relative to the Baa3 rating category, macroeconomic and industry trends are likely to continue to exert negative pressure on its operating performance and the possibility of additional cash restructuring costs could partially offset the benefits from two recent sizable disposals that have strengthened Stora Enso's capital structure, the agency said.

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