Fortum partners with Fitch Ratings
PRESS RELEASE 4 April 2013
Fortum and Fitch Ratings have entered into an agreement over rating services as of April 2013. Fitch will provide a rating of Fortum Corporation and any subsequently issued securities issued under Fortum's Euro Medium Term Note program. Fitch's current long term issuer default rating of Fortum Corporation is A-, negative outlook.
In addition, Fortum continues to hold a contract on rating services with Standard & Poor's. The long term rating with Standard and Poor's is currently A-, negative outlook.
Fortum purchases financial services, including rating services, on a competitive basis. All services are evaluated and tendered periodically.
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 fulfill 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