Helsinki, 2014-04-15 15:45 CEST (GLOBE NEWSWIRE) — Standard & Poor’s has affirmed the AAA rating of Municipality Finance Plc but revised the outlook to negative in accordance with similar action taken on the Sovereign
Credit rating agency Standard & Poor’s has affirmed the long-term credit rating AAA on Municipality Finance Plc but has revised the outlook to negative. The change is a direct consequence of the outlook revision the rating agency made on the Republic of Finland. The long-term credit of Municipality Finance is now AAA (negative). The short-term credit rating of Municipality Finance Plc is still the best possible, A-1+.
The outlook revision is not a result of company specific actions but according to the rating methodology of Standard & Poor’s, the local government sector cannot have a higher credit rating than the Republic of Finland. As the credit rating of the Republic of Finland was affirmed with a AAA rating but with the outlook revised to negative from stable on the 11th of April 2014, a similar outlook revision has now been made on the long-term credit rating of Municipality Finance Plc. Standard & Poor’s also states in their rating report that the outlook on Municipality Finance Plc will be revised back to stable when similar action is taken on the Sovereign.
Further information:
Municipality Finance Plc
Esa Kallio, Executive Vice President, Deputy to the CEO,
Tel. +358 (0)9 6803 6231, +358 (0)50 337 7953