MetsoNews2002RATING ON METSO CORPORATION DOWNGRADED TO BBB BY STANDARD & POOR'S
Stock Exchange release November 26, 2002 02:06:31 PM CET
RATING ON METSO CORPORATION DOWNGRADED TO BBB BY STANDARD & POOR'S
Standard & Poor's Rating Services has today lowered the long-term rating of Metso Corporation to 'BBB' from 'BBB+'. At the same time, the 'A-2' short-term rating was affirmed. All ratings were also removed from Credit Watch and Metso's outlook was considered to be stable.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2001, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 30,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.