Posten Bring’s improved profitability and stable market position in the Nordic region support the rating, despite its large capital investment programme leading to weak cash flow and forthcoming changes in government regulations.

Posten Bring’s continued improvement in profitability, and stable market position in the Nordic region support the rating, despite its large ongoing capital investment programme and potential changes in government regulations.

Posten Bring’s improvement in financial risk profile due to moderation in leverage metrics supports the change in Outlook, notwithstanding continuing pressure due to large ongoing capital investment programme.

Posten Norge’s reduced financial flexibility and expected continuation of macroeconomic challenges in coming years drive the downgrade.