Operations in 2002 Quarterly Data and Key Figures Board Report Consolidated Financial Statements Parent Company Financial Statements Financial Notes Auditors’ Report The Share Corporate Governance

	Operations in 2002 Value Creation Market Sales and Deliveries Financial Result Non-recurring Items Financing and Capital Expenditure Risk Analysis Risk Management Funding and Financing Costs Interest Rate Risk Financial Credit Risk Customer Credit Risk Supplier Risk		Reports 2002  >  Financials 2002  >  Operations in 2002  >  Funding and Financing Costs  >  Financial Credit Risk Financial Credit Risk Financial credit risk is the risk Stora Enso faces in dealings with financial counterparties. In general, financial institutions with credit ratings equal to or better than A1/P1 short-term or AA-/AA3 long-term are accepted as counterparties, all of which are closely monitored, with the total exposure calculated on a regular basis; the Executive Management Group approves financial counterparts having a rating below target. Stora Enso measures financial risk on several levels using the Value-at-Risk (VaR) methodology on a daily basis.