Credit rating

 Fortum's current rating and outlook from Standard & Poor's and Fitch Ratings   

Rating agency Credit rating & outlook​ Latest change​ Lead analyst​
Standard & Poor's​ ​BBB+, watch neg. ​​22 September 2017 ​Alf Stenqvist, tel. +46 8 440 5925
​Fitch Ratings ​​BBB+, watch neg. 28 September 2017

​Ana Gaspar, tel. +44 203 530 1601

Fortum's rating history (full reports below)

On 28 September 2017, Fitch Ratings placed our long-term issuer default rating (IDR) and senior unsecured rating of 'BBB+' on Rating Watch Negative (RWN). The Short-Term IDR of 'F2' has also been placed on RWN. The RWN reflects the downgrade risk associated with Fortum's intention to launch a voluntary public offer to Uniper SE's shareholders, which may cost Fortum as much as EUR8 billion for 100% of the shares and could lead to a revision of Fortum's rating guidelines if the two business are consolidated.
On 22 September 2017, Standard & Poor's placed our long-term Issuer Default Rating (IDR) and senior unsecured rating BBB+/A-2 on CreditWatch Negative on possible adverse impactsof planned Uniper acquisition.
On 28 June 2017,  Standard & Poor's affirmed our long-term Issuer Default Rating (IDR) and senior unsecured rating BBB+/A-2 on healthy financial position; outlook stable.
On 30 November 2016, Fich Ratings affirmed our long-term Issuer Default Rating (IDR) and senior unsecured rating to BBB+ and short-term IDR at F2; outlook stable.
On 21 July 2016, Standard & Poor's Ratings Services affirmed our long-term rating to BBB+ from A- and affirmed our A-2 short-term rating; outlook stable.
On 17 November 2015, Fitch Ratings downgraded our long-term Issuer Default Rating (IDR) and senior unsecured rating to BBB+ from A-while affirming our short-term IDR at F2. The Outlook is Stable. 
On 5 June 2015, Standard & Poor's Ratings Services downgraded our long-term rating to BBB+ from A- and affirmed our A-2 short-term rating. The outlook is stable. The long-term corporate credit rating was removed from CreditWatsch, where it had been placed sinch 18 March, 2015.   

On 18 March 2015, Standard & Poor's Ratings Services placed our 'A-' long-term corporate credit rating on CreditWatch and affirmed Fortum's 'A-2' short-term corporate credit rating.

On 4 April 2013, Fortum and Fitch Ratings entered into an agreement over rating services as of April 2013. Fitch will provide a rating of Fortum Corporation and any subsequently issued securities issued under Fortum's EMTN. Fitch Ratings current long term issuer default rating of Fortum Corporation is A-, negative outlook.

On 27 November 2012, Standard & Poor's Ratings Services lowered it's long- and short-term corporate credit ratings on Fortum Oyj to 'A-/A-2' from 'A/A-1'. The outlook is negative.

On 9 December 2011, Standard & Poor's Ratings Services revised its outlook on Finnish power utility Fortum Oyj to negative from stable. At the same time, S&P affirmed the 'A/A-1' long- and short-term issuer credit ratings.

On 21 September 2009, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Finland-based integrated utility Fortum Oyj to 'A' from 'A-', and removed it from CreditWatch, where it was placed on June 30, 2009, with positive implications.At the same time, the short-term credit rating was raised to 'A-1' from 'A-2'. The outlook is stable.

In August 2005, Standard & Poor's assigned an A- (stable) rating for Fortum.

Standard & Poor’s started to rate Fortum's long-term credit in October 2002.


Rating agencies

Standard & Poor’s Financial Services LLC, provides independent financial information, analytical services, and credit ratings to the world’s financial markets. For more information on Standard & Poor’s, visit

Fitch Global is global leader in financial information services. Fitch Ratings makes independent and prospective credit ratings, commentary and research to the financial markets. For more information on Fitch, visit