Moody's upgrades UPM-Kymmene to Baa2; stable outlook
Rating Action: Moody's upgrades UPM-Kymmene to Baa2; stable outlook. Global Credit Research- 02 Nov 2017. Frankfurt am Main, November 02, 2017-- Moody's Investors Service, has today upgraded the long term issuer rating of UPM-Kymmene to Baa2 from Baa3.UPM-Kymmene is a global paper and forest products group, mainly engaged in the production of paper, with an emphasis on the manufacture and sale of printing and writing papers. Co.'s operations comprise of these segments: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper ENA, UPM Plywood and Other. UPM Biocomposites, UPM Biochemicals business units and Group services are reported in Other operations. Co.'s activities are centred in European Union countries, North and South America and Asia with production plants in 13 countries.
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