Moody´s Ratings changes Landsvirkjun’ s outlook from stable to positive
03 July 2024 - 11:58AM
Moody´s Ratings changes Landsvirkjun’ s outlook from stable to
positive
Moody´s Ratings has changed Landsvirkjun’ s outlook from stable
to positive and affirmed Landsvirkjun’ s credit rating of Baa1. The
Baseline Credit Assessment (BCA) has been upgraded to baa3 from
ba1.
According to Moody´s the change of outlook to positive, and the
BCA upgrade, acknowledges the company's strong operational
performance in recent years, along with a strengthening of its
financial profile and deleveraging. Additional influential factor
for Moody´s is its revision of outlook for Iceland from stable to
positive in July 2023.
Furthermore, the positive outlook indicates that Moody´s could
upgrade Landsvirkjun if Moody´s were to take a similar action on
Iceland and if Landsvirkjun continued to show strong cash flow and
key financial ratios.
For further information please contact Rafnar Larusson, CFO
Phone nr. +354 515 9000 or by email: rafnar@lv.is