Municipality Finance Plc
Stock Exchange Release
3 October 2016 at 9:30 EET
Standard & Poor’s upgrades Municipality Finance Plc’s rating outlook from negative to stable
The credit rating agency Standard & Poor’s has revised the outlook on Municipality Finance’s long-term credit rating from negative to stable on September 30, 2016. The rating is affirmed at AA+.
The change on Municipality Finance’s rating outlook reflects the similar upgrade on the Republic of Finland on September 16, 2016. Standard & Poor’s expects Finland’s economic growth to gradually recover as a result of competiveness-boosting measures.
S&P’s rating for Municipality Finance’s short-term credit rating remains unchanged the best possible, A-1+.
Standard & Poor’s revised also the outlook on Municipal Guarantee Board’s AA+ rating from negative to stable on September 30, 2016. Municipal Guarantee Board exclusively guarantees Municipality Finance’s funding.
MUNICIPALITY FINANCE PLC
Executive VP, Deputy to the CEO, Head of Capital Markets
Tel. +358 50 3377 953
Measured by the group’s balance sheet, MuniFin (Municipality Finance Plc) 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 36 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.