Nordic Credit Rating (“NCR”) has today affirmed its long-term issuer credit rating for Elopak ASA (“Elopak”, Oslo Børs Ticker: ELO) at BBB-, with stable outlook. NCR has also affirmed Elopak’s short-term issuer rating of N3 and the BBB- issue rating on Elopak’s senior unsecured bonds.
The 'BBB-' rating reflects Elopak’s solid position in the European carton packaging market, supported by geographic diversity and growth in the U.S. and new markets, broad customer base, and solid credit metrics and moderate financial leverage. NCR also notes positive demand trends for more sustainable packaging.
The full credit rating report is available on:
https://www.elopak.com/investor-relations/debt-financing/credit-rating/ and https://nordiccreditrating.com/issuer/elopak-asa.