Elkem ASA (ELKEF) has released an update.
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Elkem ASA has faced a downgrade in its issuer rating to BBB-/Stable by Scope due to slower-than-expected recovery in credit metrics amidst ongoing market challenges. Despite some improvements in financial metrics during 2024, the company’s leverage is expected to remain above its target range for the next year, highlighting continued pressure on profitability. Elkem remains committed to maintaining an investment-grade profile, focusing on reducing leverage to a range of 1.0 – 2.0x over the cycle.
For further insights into ELKEF stock, check out TipRanks’ Stock Analysis page.