Fitch affirms Fortum’s long-term rating of BBB with negative outlook on Uniper’s stabilisation plan
FORTUM CORPORATION INVESTOR NEWS 5 AUGUST 2022 AT 17:10 EEST
Fitch Ratings has affirmed Fortum’s current long-term credit rating at BBB with negative outlook. According to Fitch, the affirmation mainly reflects the rating agency’s view that Fortum is well-shielded from the losses incurred by Fortum’s German subsidiary Uniper, following Uniper’s stabilisation package that was agreed with the German State and announced on July 22 2022.
Fitch assesses that Fortum’s rating is for example supported by the company’s clean electricity generation business, which is benefitting from high electricity prices.
Fortum’s objective is to have a solid investment grade rating of at least BBB to preserve financial flexibility and good access to capital markets.
Link to the Fitch report: Fitch Affirms Fortum Oyj on Uniper SE's Stabilisation Plan
Fortum Corporation
Ingela Ulfves
Vice President, Investor Relations and Financial Communications
Further information:
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150
Carlo Beck, Manager, Investor Relations, tel. +49 172 751 2480
Jouni Huttunen, VP, Treasury, tel. +358 50 452 4649
Media:
Fortum News Desk +358 40 198 2843
Fortum
Fortum and Uniper form a European energy group committed to enabling a successful transition to carbon neutrality for everyone. Our 50 gigawatts of power generating capacity, substantial gas import and storage operations, and our global energy trading business enable us to provide Europe and other regions with a reliable supply of low-carbon energy. We are already Europe’s third largest producer of CO2-free electricity, and our growth businesses focus on clean power, low-carbon energy, and the infrastructure for tomorrow’s hydrogen economy. In addition, we design solutions that help companies and cities reduce their environmental footprint. Our 20,000 professionals and operations in 40 countries give us the skills, resources, and reach to empower the energy evolution toward a cleaner world. fortum.com; uniper.energy
