Home  /  News  /  Fitch Ratings downgraded TVO's credit rating from 'BBB' to 'BBB-'; Outlook stable

Fitch Ratings downgraded TVO's credit rating from 'BBB' to 'BBB-'; Outlook stable

24.5.2017

​ On 24 May 2017, Fitch Ratings lowered Teollisuuden Voima Oyj’s (TVO) Long-Term Issuer Default Rating (IDR) and senior unsecured rating to ‘BBB-’ from ‘BBB’ and affirmed the company’s Short-Term IDR at ‘F3’. The outlook Fitch Ratings assessed as stable.

​According to Fitch Ratings, the downgrade of TVO's credit rating reflects expectations of lowered value creation for TVO's shareholders in the next five years due to a weak medium-term outlook for wholesale electricity prices in Finland. Value creation is one of the key considerations for TVO's ratings, particularly when the Olkiluoto 3 (OL3) nuclear power plant will be commissioned in late 2018, leading to substantially higher electricity production costs.

For more information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, Tel. +358 9 6180 6110

Share