12th May 2015 08:10
LONDON (Alliance News) - Mondi PLC Tuesday said Standard & Poor's has upgraded the company's credit rating to BBB Stable Outlook from BBB-.
"We are pleased to confirm that S&P have upgraded our credit rating in recognition of the group's strong cash flows and profitability from our high quality, low cost and well diversified asset base," Mondi Chief Financial Officer Andrew King said.
"The upgrade, supported by an improvement in the group's business risk profile, is testament to the ongoing strategy of investing in the current asset base and undertaking selective acquisitions to grow our packaging business," he added.
By Steve McGrath; [email protected]; @stevemcgrath1
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