HELSINKI, Sept. 15, 2022 - Moody's has affirmed the Ba3 corporate family rating of Outokumpu Oyj and changed the outlook to positive from stable.

"We are pleased that Moody's recognizes that Outokumpu is now better positioned financially in a more challenging environment," says Outokumpu CFO Pia Aaltonen-Forsell. "We have significantly reduced our net debt and improved our profitability, while at the same maintaining a sufficient liquidity. Outokumpu is now financially stronger than ever and more resilient to withstand also more challenging economic environments."

Outokumpu's current corporate family rating is the best credit rating since Outokumpu first obtained Moody's rating in 2016.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669

Media: Outokumpu media desk, tel. +358 40 351 9840