Municipality Finance Plc
Stock exchange release
17 December, 2015, 13:00 (CET +1)
Moody’s maintains Municipality Finance Plc’s Aaa credit rating
The credit rating agency Moody’s updated its analysis on Municipality Finance Plc’s credit ratings on December 16, 2015. The agency’s long-term credit rating on Municipality Finance Plc is still Aaa (neg.).
According to Moody’s’ assessment, Municipality Finance’s strong ratings are based among other things on the company’s importance to the Finnish regional and local government sector, the explicit guarantee for its funding of the Aaa rated Municipal Guarantee Board, good asset quality, predictable financial performance, effective diversification of funding and adequate capitalisation related to the company’s risks.
The credit rating was affirmed in Moody’s Credit Opinion. In the same report Moody’s also assessed Municipality Finance’s counterparty risk and positioned the company at Aaa (cr).
MUNICIPALITY FINANCE PLC
President and CEO
tel. +358 500 406 856
Executive VP, Deputy to the CEO, Head of Capital Markets
Tel. +358 50 3377 953
Measured by the group’s balance sheet, Municipality Finance Plc (MuniFin) is Finland’s third largest credit institution. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. MuniFin is an integral part of the Finnish public economy.
MuniFin’s balance sheet totals nearly EUR 34 billion. Funding for the company is primarily obtained through the international capital markets. MuniFin’s funding is guaranteed by the Municipal Guarantee Board.
MuniFin’s mission is to ensure competitive funding for its customers in all market conditions. The company’s customers are Finnish municipalities, municipal federations, municipally controlled companies and non-profit housing corporations. A significant portion of lending is used for socially responsible projects such as building hospitals, healthcare centers, schools, day care centers and homes for the elderly.
The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.