Announcements

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      Scope affirms A- issuer rating on Norwegian utility Hafslund and maintains Positive Outlook

      5/6/2024 Rating announcement EN

      Scope affirms A- issuer rating on Norwegian utility Hafslund and maintains Positive Outlook

      The unchanged Positive Outlook reflects potential that Hafslund’s financial risk profile could strengthen if credit metrics can be maintained at strong levels. This, however, depends on capex execution and realised electricity prices in the medium term.

      Scope upgrades Hafslund’s issuer rating to A- from BBB+ and maintains the Positive Outlook

      5/6/2023 Rating announcement EN

      Scope upgrades Hafslund’s issuer rating to A- from BBB+ and maintains the Positive Outlook

      The upgrade follows significant improvements in Hafslund’s financials, which are likely to last due to elevated power prices. Further upside is reflected by the Positive Outlook, assuming leverage does not exceed 2.0x beyond 2025.

      Scope affirms Hafslund Eco's BBB+ issuer rating and changes Outlook to Positive from Stable

      7/6/2022 Rating announcement EN

      Scope affirms Hafslund Eco's BBB+ issuer rating and changes Outlook to Positive from Stable

      Higher power prices have enabled significant deleveraging and expansion of the business through the purchase of the majority stake in Hafslund Oslo Celsio.

      Hafslund Eco becomes majority owner of Fortum Oslo Varme

      24/3/2022 Monitoring note EN

      Hafslund Eco becomes majority owner of Fortum Oslo Varme

      Due to recent extraordinary high energy prices and strong cash generation, the company has sufficient resources to complete the transaction within Scope's previous base case expectations.

      Scope assigns BBB+/Stable issuer rating on Hafslund Eco AS

      9/7/2021 Rating announcement EN

      Scope assigns BBB+/Stable issuer rating on Hafslund Eco AS

      The issuer rating reflects Hafslund’s standalone credit quality of BBB and a one-notch uplift based on the City of Oslo ownership.