STANDARD & POOR?S DOWNGRADED ELISA?S CRE

ELISA CORPORATION  STOCK EXCHANGE RELEASE   APRIL 17 AT 5:30PM

STANDARD & POOR’S DOWNGRADED ELISA’S CREDIT RATING TO BBB+

Standard & Poor’s said today it lowered its long-term credit
rating of Elisa Corporation to ‘BBB+’ from ‘A-’. At the same time,
Standard & Poor’s affirmed its ‘A-2’ short-term corporate credit
rating on the company. The outlook is negative.

According to Standard & Poor’s the action on the long-term ratings
reflects the fact that debt reduction undertaken by Elisa has not
been  sufficient to achieve target credit ratios for the previous
rating. Standard & Poor’s explains its decision  by competitive
pressures in Elisa’s domestic fixed and mobile markets and weak
competitive position, and heavy cash losses, of its German
business.

Elisa’s Group Treasurer Juha Kervinen said that the downgrade will
not increase Elisa’s financing costs of the existing loan
arrangements. Naturally it will have impact to financing costs of
the future arrangements. Because of the minor financing needs of
Elisa’s businesses the influence on the financing costs will not
be significant.

Standard & Poor’s published today its own release on Elisa’s
credit ratings.


ELISA CORPORATION


Jyrki Antikainen
Vice President, Communications

For further information

Group Treasurer, Juha Kervinen,
tel. +358 10 262 3625 or +358 50 555 3625

Distribution

Helsinki Exchange
Major Media

About Us

Elisa is a pioneer in telecommunications and digital services. We serve approximately 2.8 million consumer, corporate and public administration organisation customers, and have over 6.3 million subscriptions in our extensive network. Cooperation with Vodafone and Tele2, among others, enables globally competitive services. Our core markets are Finland and Estonia, and we also provide digital services for international markets. Elisa’s shares are listed on the Nasdaq Helsinki. In 2019, our revenue was EUR 1.84 billion euros, and we employed 4,900 people. As a responsible Finnish market leader, our operations are guided by continuous improvement. We will be a carbon neutral company from 2020 onwards. Further information on www.elisa.com , Facebook (@elisasuomi) and Twitter (@ElisaOyj)

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