Statkraft’s S&P rating upgraded to A, stable outlook

Standard & Poor’s (S&P) has today upgraded Statkraft’s rating to "A" from "A-", with stable outlook. The rating action is a consequence of the elevated power prices.

"We appreciate this positive rating action, but Statkraft stays committed to our rating target of A- from S&P and BBB+ from Fitch.  The rating action is mainly based on high power prices and Statkraft’s low-cost hydropower production. The pace and total amount of investments will depend on market opportunities and market development, and Statkraft’s ambitious growth strategy within renewable energy remains unchanged" says Anne Harris, CFO of Statkraft.

Contacts:
Stephan Skaane, Vice President Group Treasury, phone +47 905 13 652
Tron Ringstad, Senior Vice President Group Treasury, phone +47 992 93 670

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act