S&P rating confirmation

S&P has released a statement in relation to the pending merger of Elenia Finance Oyj with and into Elenia Verkko Oyj confirming that the BBB+ (stable) rating of bonds and notes issued by Elenia Finance Oyj will remain the same post-merger. The merger is part of the ongoing reorganisation of the Elenia group of companies approved by creditors by way of STID Proposal as announced on 28 November 2019.

On 1 July 2020 Elenia Verkko Oyj will become the issuing entity of the group and all the existing bonds and notes will be transferred to Elenia Verkko Oyj in the merger. The change of issuer will not affect the rating of the bonds and notes.