S&P Global Ratings removed TVO's credit rating 'BB' from CreditWatch Negative
On 17 December 2020, S&P Global Ratings (S&P) affirmed its long-term corporate credit rating 'BB' on Teollisuuden Voima Oyj (TVO) and removed it from CreditWatch Negative, where it had been placed on 4 September 2020. The outlook is negative.
According to S&P, the €400 million shareholder loan recently granted to TVO reduces near-term risk and signals that TVO's owners still support the Olkiluoto 3 EPR project, despite the delays it has suffered. S&P states that the negative outlook indicates that although a new settlement agreement with the plant supplier consortium and financing plan for Areva are likely to be announced in the next few months, the details are as yet unclear.
For further information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, Tel. +358 (0)50 3578623.
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