Fitch Ratings changed TVO’s credit rating outlook to stable

On 18 March 2022, Fitch Ratings (Fitch) affirmed its long-term credit rating BBB- for Teollisuuden Voima Oyj (TVO) and changed the outlook from negative to stable. 

According to Fitch, the stable outlook reflects operational progress on TVO’s Olkiluoto 3 EPR (OL3) plant unit, following the grid connection and start of electricity production on 12 March 2022, as well as the satisfactory agreement reached with the Areva-Siemens supplier consortium for the partial financial coverage of the project delay until September 2022. 

For further information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, TVO, Tel. +358 50 357 8623.

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 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.