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      Instrument data
      Issuer
      ELKEM ASA
      Senority
      Senior Unsecured
      Currency
      NOK
      ISIN
      NO0011079212
      Coupon percent
      1.71%
      Coupon type
      Floating: Fixed Margin over Index
      Instrument volume
      750,000,000
      Maturity date
      25/02/2025
      -
      WD Outlook: N/A
      WD Outlook: N/A
      Latest change
      Withdrawal
      25/02/2025
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Withdrawal reason: end of maturity of the debt obligation, or in case the debt is redeemed, called, prefunded, cancelled
      Per Haakestad Lead analyst
      Thomas Faeh Committee chair
      Scope puts BBB- issuer rating of Norwegian chemicals firm Elkem under review for a possible upgrade

      7/2/2025 Rating announcement EN

      Scope puts BBB- issuer rating of Norwegian chemicals firm Elkem under review for a possible upgrade

      The rating action follows Elkem's announcement of a strategic review of its Silicones division, which may result in a full or partial sale.

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      Scope downgrades Elkem’s issuer rating to BBB-/Stable from BBB/Negative

      20/12/2024 Rating announcement EN

      Scope downgrades Elkem’s issuer rating to BBB-/Stable from BBB/Negative

      The rating action is driven by a slower-than-expected recovery in credit metrics amid continued market headwinds, which has led to a downward revision of the financial risk profile.

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      Scope affirms Elkem’s BBB issuer rating and changes Outlook to Negative from Stable

      21/12/2023 Rating announcement EN

      Scope affirms Elkem’s BBB issuer rating and changes Outlook to Negative from Stable

      The Negative Outlook reflects the prospects of sustained weaker operating profitability and credit metrics in a more challenging macroeconomic environment.

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      Scope affirms BBB/Stable issuer rating on Elkem ASA

      21/12/2022 Rating announcement EN

      Scope affirms BBB/Stable issuer rating on Elkem ASA

      The rating continues to reflect Elkem's position as a global player in the silicone industry, strong cost position, moderate contribution of specialty-like products to sales and a financial risk profile of BBB+.

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      Scope assigns BBB/Stable issuer rating to Elkem ASA

      17/12/2021 Rating announcement EN

      Scope assigns BBB/Stable issuer rating to Elkem ASA

      The issuer rating consists of a weaker business risk profile than its financial risk profile. The latter is currently helped by favorable market pricing conditions and a recent equity issue, leading to leverage expectations in the 1-2x area.

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