Creditreform Rating AG confirmed the unsolicited corporate issuer rating of Teollisuuden Voima Oyj at BBB-. The outlook has been revised from stable to negative. The primary rating drivers behind this decision is the delay in fuel loading for the OL3 project, which was last planned for June 2020 and which might delay the commissioning of the OL3 power plant. The signed settlement agreement of March 2018 between TVO and the supplier consortium does not protect TVO from further significant delays. Additionally, the currently low prices also put further downward pressure on the corporate issuer rating.
Creditreform Rating has carried out an unsolicited rating of Teollisuuden Voima Oyj. The rating has been set to BBB- with stable outlook.