Sandvik’s rating upgraded to A- by Standard & Poor’s Global Ratings
Standard & Poor's Global Ratings has upgraded Sandvik´s credit rating to A- from BBB+, with a stable outlook. S&P Global highlights the business portfolio rationalization, cost cutting, and management's commitment to lower debt. Sandvik is expected to be more resilient in the future, despite exposure to cyclical end markets, thanks to a more flexible cost structure.
"The upgraded credit rating is a recognition of our strategy and our strong commitment to become a less volatile company than in the past,” says Tomas Eliasson, EVP Finance, Sandvik Group.