16th Mar 2010 11:00
Mondi Limited(Incorporated in the Republic of South Africa)(Registration number: 1967/013038/06)JSE share code: MND ISIN: ZAE000097051Mondi plc(Incorporated in England and Wales)(Registration number: 6209386)JSE share code: MNP ISIN: GB00B1CRLC47LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc (together `Mondi Group') notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the JSE Listings Requirements and/or the Disclosure and Transparency and Listing Rules of the United Kingdom Listing Authority.
16 March 2010
Long Term Corporate Credit Ratings
Mondi is pleased to announce that it has received long term corporate credit ratings of Baa3 from Moody's Investor Service and BB+ from Standard & Poor's. Both ratings having a stable outlook.
Referring to the new ratings, David Hathorn, chief executive officer, commented, "These ratings reflect Mondi's leading market positions, the well invested, low-cost asset base and consistent focus on operating efficiency. The successful attainment of these ratings will provide Mondi with additional financial flexibility going forward."
Contact details:
James Paterson +44 (0)1932 826340
Andrew King +27 (0)11 994 5415
Lora Rossler +27 31 451 2111 or [email protected]
Editors' notes:
Mondi is an international paper and packaging group and in 2009 had revenues of €5.3 billion. Its key operations and interests are in western Europe, emerging Europe, Russia and South Africa.
The Group is principally involved in the manufacture of packaging paper and converted packaging products as well as speciality products.
Mondi is fully integrated across the paper and packaging process, the growing of wood and the manufacture of pulp (including recycled paper) to the conversion of packaging papers into corrugated packaging and industrial bags.
Mondi has production operations across 31 countries and had an average of 31,000 employees in 2009.
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