S&P Global Ratings has upgraded TVO’s long-term credit rating to BB+

On 21 March 2022, S&P Global Ratings (S&P) upgraded Teollisuuden Voima Oyj’s (TVO) long-term credit rating from BB to BB+ and affirmed its positive outlook. 

According to S&P, the rating upgrade is based on the successful startup and grid connection of the Olkiluoto 3 EPR (OL3) plant unit. The positive outlook reflects S&P’s expectation of continued progress for OL3, such as plant completion and full operations by July 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.