Fitch Ratings affirms Fortum’s long-term rating of BBB with stable outlook

FORTUM CORPORATION INVESTOR NEWS 18 MARCH 2024 AT 10:15 EET

Fitch Ratings (Fitch) has affirmed Fortum’s current long-term credit rating at BBB with stable outlook. According to Fitch, the affirmation reflects the company's strong and well-managed generation fleet as well as its solid financial profile and commitment to maintain a prudent capital structure.

Fortum’s financial position is very strong and the company’s objective is to maintain a credit rating of at least BBB. At the end of 2023, Fortum’s ratio for financial net debt to comparable EBITDA was at a low level of 0.5 times compared to the maximum level of 2.0-2.5 times.

Fitch Ratings’ report is available as an attachment to this release.

Fortum Corporation

Ingela Ulfves
Vice President, Investor Relations and Financial Communications

Further information:
Analysts and investors:
Ingela Ulfves, Vice President, Investor Relations and Financial Communications, tel. +358 40 515 1531
Rauno Tiihonen, Director, IR, tel. +358 10 453 6150
Jouni Huttunen, VP, Treasury, tel. +358 50 452 4649

Media:
Fortum News Desk +358 40 198 2843

Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com