Credit ratings

Vattenfall has solicited credit ratings from two rating agencies; Moody’s and Standard & Poor’s.
Rating agencies assess Vattenfall and other companies according to two main parameters:

  • Business risk analysis, comprising industry characteristics, competitive position, management and business strategy.
  • Financial risk analysis, comprising financial policy, cash flow protection, profitability, capital structure and financial flexibility.

Press releases

Contact information

Moody's Investors Service Limited

Joanna Fic
joanna.fic@moodys.com
+44 (0)207 772 5571

Standard & Poor's

Pierre Georges
pierre.georges@spglobal.com
+33 (0)1 44 20 67 35

Credit ratings

Rating agency Long term Short term Latest changes
Standard & Poor's BBB+ A-2 7 June 2017
Outlook changed from negative to stable. Long-term BBB+ rating affirmed. Short-term K-1 Nordic regional scale rating and short-term A-2 rating also affirmed.

19 May 2016
Long-term BBB+ rating affirmed. Short term K-1 Nordic regional scale rating and short term A-2 rating also affirmed.

25 February 2016
Long-term BBB+ rating and short-term K-1 Nordic regional scale rating placed on CreditWatch with negative implications. Short-term A-2 rating affirmed.

28 September 2015
Long-term rating changed to BBB+. Outlook changed to negative.

24 July 2015
Long-term A- rating placed on CreditWatch with negative implications. Short-term A-2 rating affirmed.

9 December 2011
Long-term rating lowered to A- and short term to A-2. Outlook changed from negative to stable.

23 December 2009
Outlook changed from stable to negative.

30 June 2009
Long-term rating upgraded to A and short term to A-1.

6 September 2006
Outlook changed from positive to stable.

21 June 2005
Outlook changed from stable to positive.

4 April 2003
Outlook changed from negative to stable.

3 July 2001
Long-term rating lowered to A- and short term to A-2.
Moody's A3 P-2 18 July 2017
Outlook changed from negative to stable. Long-term A3 rating affirmed. Baa2 junior subordinated debt rating and short-term P-2 rating also affirmed.

13 May 2016
Long-term A3 rating and Baa2 junior subordinated debt ratings confirmed.

13 February 2016
Long-term A3 rating and Baa2 junior subordinated debt ratings on review for downgrade. Short-term P-2 rating affirmed.

6 August 2015
Long-term A3 rating affirmed. Outlook changed from stable to negative.

27 September 2013
Long-term rating changed from A2 to A3 with stable Outlook.

21 February 2012
Outlook changed from stable to negative.

27 July 2006
Outlook changed from positive to stable.

23 June 2005
Long-term rating changed from A3 to A2.

7 June 2005
Outlook changed from stable to positive.

10 October 2003
Outlook changed from negative to stable.

23 July 2001
Long-term rating lowered to A3 with negative outlook and short-term to P-2.

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