Municipality Finance Plc
Stock Exchange Release
15 June 2015 at 09:00 (CET +1)
Moody’s affirmed Municipality Finance Plc’s Aaa rating; outlook negative
Credit rating agency Moody’s has affirmed the best possible Aaa rating for Municipality Finance’s long-term credit rating on 12 June 2015. However, Moody’s revised the outlook on Municipality Finance’s rating to negative. The change is a consequence of the similar outlook revision on the Republic of Finland.
Moody’s rating for Municipality Finance’s short-term credit rating also the best possible, Prime-1.
The outlook revision reflects the weakening of the Republic of Finland’s credit profile, Moody’s estimates. The agency revised the sovereign’s Aaa rating’s outlook to negative from stable on the on 5 June 2015. According to Moody’s, the weakening of the sovereign’s rating outlook is a result of Finland’s low economic growth as well as the fiscal deficit and debt burden.
On 9 June 2015 Moody’s also confirmed Municipal Guarantee Board’s (MGB) Aaa rating and changed its outlook to negative from stable. As with Municipality Finance’s outlook, Moody’s rating action on Municipal Guarantee Board followed the changed rating outlook on the sovereign of Finland. MGB explicitly guarantees all of Municipality Finance’s funding.
MUNICIPALITY FINANCE PLC
Esa Kallio
Executive VP, Deputy to the CEO, Head of Capital Markets
Tel. +358 50 3377 953