Moody’s revises Fingrid to stable

Moody's Investors Service said it changed the outlook on Fingrid Oyj’s A1 issuer rating and senior unsecured ratings and provisional A1 euro medium-term note program rating to stable from positive.

Concurrently, the agency affirmed these ratings and Fingrid's short-term P-1/provisional P-1 ratings.

"The outlook change to stable from positive on Fingrid's A1 ratings reflects our expectation of a slight deterioration in Fingrid's financial profile until 2021," Phil Cope, Moody’s analyst and lead analyst for Fingrid, said in a news release.

"This is driven by (1) lower operating cash flows from further declines in the WACC and hence allowed returns; and (2) continued high shareholder distributions that result in company's leverage increasing slightly, albeit from a low base, over this period."

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