Moody’s changes Statnett’s long term credit rating from Aa3 to A2
(12/16/2009)
Moody’s investor services has changed Statnett’s long term credit rating from Aa3 to A2. At the same time, short-term issuer rating is affirmed at Prime-1. Outlook is stable.
Statnett was put on review for possible downgrade in August 2009. The decision to downgrade Statnett is due to an increase in planned investments and expected debt increase, as well as the rejection by the Norwegian Government of a 4 billion equity injection applied for earlier this year.
Moody’s emphasises the company’s low risk profile established by a well functioning regulatory framework, Statnett’s position as a natural monopoly with virtually all of its operating profit derived from electricity transmission activities.
Statnett’s long term credit rating:
Moody’s: A2 (16. December 2009)
Standard & Poor’s: AA, credit watch negative (14th October 2009)
