MetsoNews2004RATINGS ON METSO CORPORATION DOWNGRADED BY STANDARD & POOR'S
Stock Exchange release March 3, 2004 01:34:50 PM CET
RATINGS ON METSO CORPORATION DOWNGRADED BY STANDARD & POOR'S
Standard & Poor's Rating Services has lowered Metso's corporate credit rating to BB+ from BBB, and considers the outlook on ratings to be stable. Additionally, the ratings of Metso's outstanding bonds and EMTN program were lowered to BB from BBB. At the same time, the short-term rating was lowered to B from A-3. All ratings were removed from Credit Watch.
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 2003, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 27,400. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.