Research And Markets Research And Markets

Summary: Fortum Oyj May 11

  • ID: 1805878
  • May 2011
  • Standard & Poors
1 of 3

The ratings on Finnish power utility Fortum Oyj reflect its position as one of the largest integrated utilities in the Nordic region, its diverse and competitive generation portfolio, and its stable electricity distribution and heat operations. These strengths are partly offset by the group's exposure to the competitive and increasingly challenging Nordic electricity wholesale and supply markets, volatile wholesale power prices, exposure to the higher-risk Russian market, significant capital expenditure program, and volatility in cash flows caused by currency hedging effects on internal loans denominated in Swedish krona. The ratings further reflect our methodology for rating government-related entities (GREs) and our opinion that there is a "moderate" likelihood that the Finnish government will provide timely and sufficient extraordinary support in...

Companies mentioned in this report are:
- Fortum Oyj

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- Fortum Oyj

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown