Moody's upgrades UPM-Kymmene to Baa3; stable outlook
Frankfurt am Main, February 06, 2017-- Moody's Investors Service, has today upgraded the rating of Finnish forest products firm UPM-Kymmene, assigning a long-term issuer rating of Baa3. Concurrently Moody's also withdrew UPM's corporate family rating of Ba1 and probability of default rating of Ba1-PD following the assignment of an issuer rating of Baa3 as per the rating agency's practice for corporates with investment grade ratings. Please refer to the Moody's Investors...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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