Axactor ASA: S&P upgrades Axactor ASA rating to "B", with stable outlook

On August 17, 2026, S&P released a research update announcing the upgrade of the
Axactor ASA long-term issuer credit rating from "B-" to "B". The decision to
upgrade the rating is based on the sustainably stronger financial position after
the completion of the transformational balance-sheet restructuring in the second
quarter of 2026.

After Axactor's announcement in April of the intention to raise additional
equity, S&P placed the Axactor rating on CreditWatch positive. With the release
of the first half year financial statements and the conclusion of the
pre-announced review of all unsecured NPL portfolios, the rating has been raised
one notch to "B", and all ratings have been removed from CreditWatch. The issue
level rating on the Group's senior unsecured notes is also lifted, from "B" to
"B+".

The stable outlook reflects Axactor's consistent, if elevated, leverage profile,
comfortable liquidity position, and absence of major debt maturities within the
next 12 months, as well as an anticipation that the company will deliver steady
to gradually improving medium-term adjusted EBITDA levels from 2026.


For additional information, please contact:
Nina Mortensen, CFO
Mobile: +47 975 24 236
E-mail: nina.mortensen@axactor.com
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E-mail: nina.mortensen@axactor.com\