Finnfund’s AA+ rating affirmed by Fitch Ratings

The credit rating agency Fitch Ratings has affirmed Finnfund’s credit rating at ‘AA+’ with Negative Outlooks.

The rating covers Finnfund’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR), Short-Term Foreign- and Local-Currency IDRs, and senior unsecured debt.

Fitch views Finnfund as a government-related entity (GRE) of the Finnish state (AA+/Negative) and its ratings are equalised with those of the Finnish sovereign. This equalisation is due to the state's strong control over Finnfund and the financial support it has received from it, based on Finnfund's unique policy role on behalf of the government, promoting sustainable economic and social development in developing countries.

“We are glad to have our AA+ rating affirmed by Fitch. The AA+ rating reflects that Finnfund is a strong issuer, and we anticipate that this external rating will increase our potential credit investor universe,” said Olli Sinnemaa, Chief Financial Officer at Finnfund.

Increasing the share of private funding in the funding base is one of Finnfund’s strategic goals. Since establishing a Sustainability Bond Framework in 2022, Finnfund has issued a 100 million euros green private placement bond in December 2023, and a 75 million euros sustainability bond in October 2022.

Mobilising private capital is key to achieving the Sustainable Development Goals (SDGs) by 2030.

The rating action commentary is available at Fitch Publishes Finnish Fund for Industrial Cooperation's 'AA+' IDRs; Outlook Negative

More information:
Olli Sinnemaa, Chief Financial Officer, olli.sinnemaa@finnfund.fi, tel. +358 50 422 6478
Petri Järvinen, Treasury Manager, petri.jarvinen@finnfund.fi, tel. +358 50 374 0558
Kirsi Pere, Communications Manager, kirsi.pere@finnfund.fi, tel. +358 40 620 9767 (media contacts)