Sandvik’s outlook upgraded to BBB+ by Standard & Poor’s global ratings
OREANDA-NEWS. On December 4, 2017, Standard & Poor's Global Ratings upgraded its credit rating on Sandvik AB from BBB to BBB+, stable outlook.
The main reasons for the upgraded rating are that Sandvik’s performance has been strengthened supported by a market recovery, cost-saving measures and a reduced debt as a result of divestments.
"The improved credit rating recognizes the positive effects of our strategy and shows an improved confidence in a continued strong development of our operations," says Tomas Eliasson, EVP Finance, Sandvik Group.