S&P increase rating for Pfleiderer Group to B+ with positive outlook

Standard & Poor's Global Ratings has increased the long-term corporate credit rating for the Pfleiderer Group and German company PCF GmbH, a 100 percent subsidiary, to B+ from B, the agency said. The rating outlook is positive. "The increase occurs after Pfleiderer improved its operating results and due to our expectations that lower interest expenditure and restructuring will improve indicators in 2017 and 2018," the release read. The Group is a leading manufacturer of wood-based panels on the largest European markets including Germany and Poland where it is number one and two respectively in terms of production of chipboard. The company has been listed on the Warsaw Stock Exchange since 1997.