Oct 20, 2005. /Lesprom Network/. Moody's Investors Services has changed on Wednesday the outlook on M-real Corporation's Ba2 rating to negative from stable. According to Moody's the outlook change to negative is caused by the continuing weak operating environment for the European paper industry. The revision to negative outlook does not impact the costs of M-real Corporation's existing debt or credit facilities. M-real is one of Europe’s leading suppliers of paperboard and related services, coated and uncoated fine paper and coated magazine paper. M-real focuses on four business areas: consumer packaging, publishing, commercial printing and office papers.