Moody's warns of tougher times for European paper firms.

The article reports that Moody's credit rating agency has cautioned European paper manufacturers about difficult trading conditions despite of the previous volume recovery in the paper and forest products sector. Moody's analyst Anke Rindermann described how previous price increases did not contribute to profitability for paper manufacturers. Companies like Sappi and Norske Skog have both recorded weak financial performance that affected the trading value of their bonds.