Fitch downgrades Teollisuuden Voima to ‘BBB’, outlook stable

Fitch Ratings has downgraded Teollisuuden Voima Oyj’s (TVO) Long-term Issuer Default Rating (IDR) and senior unsecured rating from ‘BBB+’ to ‘BBB’ and Short-term IDR from ‘F2’to ‘F3’. In its announcement Fitch remarks that outlook of the rating is stable.

For further information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, TVO, tel. +358 (0) 9 6180 6110.

Teollisuuden Voima Oyj is a Finnish nuclear power company founded in 1969 for safe and reliable production of electric energy to the Finnish society at a reasonable price. The nuclear power generated at TVO's Olkiluoto plants accounted in 2012 for ca. one sixth of the total energy consumption in Finland. Clean energy production not only benefits the Finnish society but also contributes to the global reduction of environmental impact.

About Us

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 EPR is completed, of the electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.