Moody's Investors Service ("Moody's") has announced to downgradeAxactor 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 dated17 May 2024 that the rationale for the downgrade isAxactor'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 further information, please contact:Kyrre Svae , Chief of Strategy & IR,Axactor Tel: +47 478 39 405 E-mail: kyrre.svae@axactor.com
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