Moody’s: Orkuveita Reykjavikur view to positive

Moody's Investors Service said it changed the outlook on Orkuveita Reykjavikur to positive from stable and converted the Ba2 issuer rating into a Ba2 corporate family rating, in line with the agency's practice for corporates with non-investment-grade ratings.

Moody’s said the outlook change recognizes the progress Orkuveita Reykjavikur has made with regard to improving its operational performance, reducing its financial leverage and strengthening its liquidity profile over recent years, and the increased likelihood that the company will meet the agency’s ratio guidance for a rating upgrade in the near future.

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