On May 20, 2008, Standard&Poor's Ratings Services lowered to 'A' from 'A+' its long-term corporate credit rating on Sweden-based tool and mining equipment manufacturer Sandvik AB, reflecting an adjustment in its view of Sandvik's financial risk profile. The rating was removed from CreditWatch, where it had been placed with negative implications on April 22, 2008. The outlook is stable. At the same time, the 'A-1' short-term corporate credit rating on Sandvik and the 'K-1' Nordic national scale rating on the Sandvik Treasury AB Swedish commercial paper program were affirmed. The downgrade indicates that Sandvik's financial risk profile, although still modest, is now more in line with an 'A' rating. This follows the company's change to a higher financial
