Aug 07, 2006. /Lesprom Network/. Standard & Poor's Ratings Services has downgraded on August 4 M-real Corporation's BB- rating to B+. The outlook of the rating remains negative. Downgrade has an annual impact of approximately Euro 1.3 million on M-real's current financing costs. M-real is one of Europe’s leading suppliers of paperboard and related services, coated and uncoated fine paper and coated magazine paper. It’s main market is Europe, but products are sold worldwide. M-real focuses on four business areas: consumer packaging, publishing, commercial printing and office papers.