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+, stable ​​5 June 2015 ​Alf Stenqvist, tel. +46 8 440 5925
​Fitch Ratings ​​BBB+, stable ​17 November 2015

​Ana Gaspar, tel. +44 203 530 1601

Fortum's rating history 

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