Frankfurt am Main, July 26, 2016 -- Moody's Investors Service, ("Moody's") has today upgraded Norske Skogindustrier ASA (Norske Skog)'s Corporate Family Rating (CFR) to Caa2 from Caa3 and the Probability of Default Rating (PDR) to Caa2-PD from Caa3-PD. A complete list of rating action is at the end of the press release. The outlook on all ratings is stable.

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