Fortum has decided to terminate rating agreement with Moody’s Investors Service
PRESS RELEASE 15 February 2013
Fortum purchases financial services, including rating services, on a competitive basis. All services are evaluated and tendered periodically. As a part of this practice and in line with the company's ongoing cost-efficiency programme, Fortum has decided to terminate its current rating relationship with Moody’s Investors Service. The termination is effective as of today. If Moody's Investors Service continues to rate Fortum's existing outstanding bonds, these ratings will be based on publicly available information only.
Fortum continues to hold a contract on rating services with Standard & Poor's.
Jan Seveborg, Group Treasurer, Fortum Corporation. Tel +358 10 45 29164
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
Further information: www.fortum.com