Scope puts the BBB- issuer rating of Elkem under review for a possible upgrade

Rhea-AI Summary

Scope has placed Elkem's BBB- issuer rating under review for a potential upgrade following the company's announcement of a strategic review of its Silicones division. The rating agency will monitor developments in Elkem's strategic evaluation of the Silicones business closely. This announcement was made in compliance with Norwegian Securities Trading Act disclosure requirements.

Positive

• Potential credit rating upgrade from current BBB- level
• Strategic review of Silicones division indicates potential value optimization

Negative

• None.

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OSLO, Norway, Feb. 7, 2025 /PRNewswire/ -- Scope has announced that they put Elkem's BBB- issuer rating under review for a possible upgrade.

According to Scope, the rating action follows Elkem's announcement of a strategic review of its Silicones division. Scope will closely monitor developments in Elkem's strategic review of the Silicones business.

The rating report from Scope is attached.

For further information, please contact:
Odd-Geir Lyngstad
VP Finance and Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Elkem

Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,400 people has a joint commitment to stakeholders: Delivering your potential. In 2023, Elkem achieved an operating income of NOK 35.5 billion and CDP ratings of A on Forests, and A- on Climate Change and Water Security. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. www.elkem.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/elkem/r/scope-puts-the-bbb--issuer-rating-of-elkem-under-review-for-a-possible-upgrade,c4102653

The following files are available for download:

https://mb.cision.com/Public/16930/4102653/81067d2f06d98305.pdf

Scope Ratings ELKEM RAR 2025 Feb

FAQ

What is Elkem's (ELKEF) current credit rating with Scope?

Elkem's current credit rating with Scope is BBB-, which has been placed under review for a possible upgrade.

Why did Scope put Elkem's (ELKEF) rating under review in February 2025?

Scope put Elkem's rating under review following the company's announcement of a strategic review of its Silicones division.

What division of Elkem (ELKEF) is under strategic review in 2025?

Elkem's Silicones division is under strategic review, which prompted Scope to place the company's credit rating under review for a possible upgrade.

What could happen to Elkem's (ELKEF) credit rating following the review?

Following the review, Elkem's BBB- credit rating could potentially be upgraded, depending on the developments in the strategic review of its Silicones business.