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MND\MNP - Upgrade of Standard & Poor’s (S&P) Long Term Credit Rating to BBB
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited
and Mondi plc (together “Mondi Group”) notify both the JSE
Limited and the London Stock Exchange of matters required
to be disclosed under the Listings Requirements of the JSE
Limited and/or the Disclosure and Transparency and Listing
Rules of the United Kingdom Listing Authority.
Upgrade of Standard & Poor’s (S&P) Long Term Credit Rating
to BBB
Mondi Group is pleased to announce that S&P has upgraded
the Group’s credit rating to BBB stable Outlook from BBB-.
Referring to the improvement in the Group’s credit rating,
Andrew King, Mondi’s Chief Financial Officer, commented,
"We are pleased to confirm that S&P have upgraded our
credit rating in recognition of the Group’s strong cash
flows and profitability from our high quality, low cost and
well diversified asset base. The upgrade, supported by an
improvement in the Group's business risk profile, is
testament to the ongoing strategy of investing in the
current asset base and undertaking selective acquisitions
to grow our packaging business."
Contact details:
James Paterson +44 (0)1932 826340
Andrew King +27 (0)11 994 5415
Lora Rossler +27 83 627 0292
About Mondi
We are Mondi: In touch every day
Mondi is an international packaging and paper Group,
employing around 25,000 people across more than 30
countries. Our key operations are located in central
Europe, Russia, North America and South Africa. We offer
over 100 packaging and paper products, customised into more
than 100,000 different solutions for customers and end
consumers. In 2014, Mondi had revenues of €6.4 billion and
a return on capital employed of 17.2%.
The Mondi Group is fully integrated across the packaging
and paper value chain - from managing forests and producing
pulp, paper and compound plastics, to developing effective
and innovative industrial and consumer packaging solutions.
Our innovative technologies and products can be found in a
variety of applications including hygiene components,
stand-up pouches, super-strong cement bags, clever retail
boxes and office paper. Our key customers are in industries
such as automotive; building and construction; chemicals;
food and beverage; home and personal care; medical and
pharmaceutical; packaging and paper converting; pet care;
and office and professional printing.
Mondi has a dual listed company structure, with a primary
listing on the JSE Limited for Mondi Limited under the
ticker code MND and a premium listing on the London Stock
Exchange for Mondi plc, under the ticker code MNDI.
For us, acting sustainably makes good business sense. We
don’t just talk about sustainability; we make it part of
the way we work every day. We have been included in the
FTSE4Good Index Series since 2008 and the JSE's Socially
Responsible Investment (SRI) Index since 2007.
12 May 2015
Sponsor in South Africa: UBS South Africa Proprietary
Limited
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