Fitch lifts Orkuveita Reykjavikur to BB+

Fitch Ratings said it upgraded Orkuveita Reykjavikur’s long-term issuer default rating to BB+ from BB.

The outlook is stable.

Fitch said the upgrade reflects its assessment of the moderate to strong links between the company and its main shareholder, the City of Reykjavik under Fitch's Government-Related Entities (GRE) Criteria published on Feb. 7.

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