Axactor ASA: Moody's changes Axactor's credit rating

Moody’s Investors Service (“Moody’s”) has announced to downgrade Axactor ASA's Corporate Family Rating (CFR) to B2 from B1 and its senior unsecured ratings to Caa1 from B3 and placed the ratings on review for downgrade.

Moody’s states in a press release dated 17 May 2024 that the rationale for the downgrade is Axactor's weakened financial performance in the currently challenging macroeconomic environment for debt purchasers, characterized by reduced collections in certain regions and further exacerbated by the increased cost of funding. The full press release from Moody’s is enclosed.

For additional information, please contact:

Kyrre Svae
Chief of Strategy and IR
Tel: +47 478 39 405
E-mail: kyrre.svae@axactor.com