Creditreform Rating has carried out an unsolicited corporate issuer rating of Elisa Oyj. The rating has been set to BBB+ with stable outlook. The current rating of BBB+ attests a highly satisfactory level of creditworthiness to Elisa Oyj, which represents a low to medium default risk. The rating result is based on the strong profile of the financial ratios and a stable earnings capacity which is sufficient to cover the company's investment and dividend payments. Elisa´s proved access to financial markets, solid liquidity, controlled investment spending and prudent financial policy underpin our rating assessment. Elisa has an established position in the telecommunications market in Finland and Estonia, countries with well-developed regulatory frameworks and stable political and economic conditions. The company pursues a plausible strategy with a prudent financial policy. We consider it to be positive the company's strategic goals include clear financial targets for maintaining a solid financial structure. However, it is critical to see that both of the Company´s key markets are already saturated and have a high penetration rate in both mobile telephony and broadband, thus limiting its growth potential. The intense competition on the Finnish telecommunications market, with its three major players, puts additional pressure on our rating.
Creditreform Rating has carried out an unsolicited rating of Elisa Oyj. The rating has been set to BBB+ with stable outlook.