Moody’s maintain Statnett’s Aa3 long term rating, but places the rating under review
(8/5/2009)
Moody's Investors Service has today announced that they maintain Statnett SF’s Aa3 long term rating, but has put the rating under review for possible downgrade.
“The rating action reflects Moody's expectation that the company's ambitious investment program will likely result in a weak credit profile for the current Aa3 rating”, states Moody’s in their press release. “In this context, Moody’s notes
Statnett’s request for equity injections to its owner, Norway’s Ministry of Petroleum and Energy, with a final decision expected by the end of October.”
Moody’s expects to conclude its review within three months, provided that a decision with regard to the potential Norwegian government equity injection is known by that time.
Statnett’s long term ratings from Moody’s and Standard & Poor’s are now as follows:
Moody’s: Aa3, review for possible downgrade (4 August 2009)
Standard & Poor’s: AA, outlook stable (2 July 2009)
