International credit rating agency Fitch Ratings ("Fitch") has upgraded Fingrid Oyj's Long-Term Issuer Default Rating (IDR) to 'A+' from 'A' and senior unsecured rating to ‘AA-‘ from 'A+'. Fitch has affirmed the Short-Term IDR at ‘F1’. The outlook on the ratings is stable. The ratings do not incorporate any uplift from state majority ownership.
Fingrid’s Chief Financial Officer Jukka Metsälä says: ”Fingrid has the largest investment program in company’s history underway and this program has a central role in enabling Finland’s transition to a clean energy system. Stable and predictable regulation lays a foundation to corporate finance, which makes possible the realisation of these investments. I am glad that we can support our clients in achieving their emission targets in a cost efficient way.”
Fingrid's 'A+' rating is the highest that Fitch assigns to a regulated network in Europe.
For more information:
Chief Financial Officer Jukka Metsälä, Fingrid Oyj, tel. +358 40 563 3756
