Axactor ASA: S&P upgrades Axactor ASA rating to “B“, with stable outlook
On August 17, 2026, S&P released a research update announcing the upgrade of the Axactor ASA long-term issuer credit rating from “B-“ to “B”. The decision to upgrade the rating is based on the sustainably stronger financial position after the completion of the transformational balance-sheet restructuring in the second quarter of 2026.
After Axactor’s announcement in April of the intention to raise additional equity, S&P placed the Axactor rating on CreditWatch positive. With the release of the first half year financial statements and the conclusion of the pre-announced review of all unsecured NPL portfolios, the rating has been raised one notch to “B”, and all ratings have been removed from CreditWatch. The issue level rating on the Group’s senior unsecured notes is also lifted, from “B” to “B+”.
The stable outlook reflects Axactor's consistent, if elevated, leverage profile, comfortable liquidity position, and absence of major debt maturities within the next 12 months, as well as an anticipation that the company will deliver steady to gradually improving medium-term adjusted EBITDA levels from 2026.
For additional information, please contact:
Nina Mortensen, CFO Mobile: +47 975 24 236