Mondi assessing potential investments after S&P upgrades
Packaging and paper company Mondi is considering its options to expand the Stambolijski mill in Bulgaria.
Forestry & Paper
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According to various reports, the packaging and paper group is evaluating potential investments at its cost-efficient Bulgarian mill, although according to the company no decision had yet been taken.
Shares in Mondi were 2.3% higher at 1,950.50 pence in London on Friday and 4.0% higher at ZAR334.08 in Johannesburg trading.
Earlier, its shares had jumped by 4% after S&P Global Ratings upgraded its rating for the company's long-term debt from BBB to BBB+ with a 'stable' outlook.
Commenting on the announcement, the company's finance chief, Andrew King said: "We are pleased to confirm that S&P has upgraded our credit rating in recognition of the group’s ongoing financial strength and robust business model."