Axactor ASA: S&P Outlook Revised to Stable from Negative, “B-“ Ratings is Affirmed

On November 27, 2025, S&P released a research update announcing that the outlook for Axactor ASA’s ratings has been revised from negative to stable. In the same update, S&P affirmed the company’s long-term issuer credit rating at ‘B-’.

The decision to revise the outlook reflects several important factors identified by S&P. Notably, Axactor ASA’s capital structure has improved, underpinned by a diversification in the company’s debt maturities. This positive development means that Axactor ASA is not facing any significant debt maturities within the next twelve months.

S&P concluded that the combination of a strengthened capital structure and the lack of major near-term debt maturities has resulted in a reduced refinancing risk for the company.

The research update from S&P is enclosed.

For further information, please contact:

Kyrre Svae, Deputy CEO & CSO, Axactor Tel: +47 478 39 405 E-mail: kyrre.svae@axactor.com