"We are pleased to receive this rating - a mark of quality in the global marketplace," says Per Nordberg, CFO of OMHEX. "It shows OMHEX is a strong and committed business partner and gives the company access to more cost-effective funding. The rating is an important step in a major refinancing program for OMHEX. We are happy to see that SEB Merchant Banking, Nordea, Handelsbanken, Den Danske Bank and Sampo are confirming their role as our core banking partners and we look forward to develop our future relationships."
"The ratings on OMHEX reflect the conservative policy regarding membership and margin collateral system and the diligent risk management oversight at Stockholmsbörsen. The ratings also incorporate the expectations of the recent merger between OM and HEX, and the divestment and closure of loss-making subsidiaries," said Miguel Pintado, analyst at Standard & Poor's Financial Services Group in Stockholm, in a separate press release issued by Standard & Poor's earlier today.
The ratings agency also said that the outlook was negative, but that "the ratings also capture the potential benefits arising from the combination of OM and HEX and the cost-restructuring program undertaken by the former OM prior to the merger... which partially mitigates Standard & Poor's concerns...".