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.
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.
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.
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.