Moody’s downgrades Aktia’s ratings and upgrades outlook to stable
September 27 2022 - 10:30AM
Moody’s downgrades Aktia’s ratings and upgrades outlook to stable
Aktia Bank PlcPress Release27 September 2022 at
5.30 p.m.
Moody’s downgrades Aktia’s
ratings and
upgrades outlook to
stable
The credit rating agency Moody's Investors Service has on 26
September 2022 decided to downgrade Aktia Bank Plc's long-term
deposit and senior unsecured debt ratings to A2 from A1 and changed
the outlook to stable from negative. Furthermore, the rating
agency downgraded the Baseline Credit Assessment (BCA) and adjusted
BCA to baa1, from a3. All short-term ratings and assessment were
affirmed at P-1.
According to Moody’s release, the downgrade reflects a multiyear
trend of declining capital metrics, mainly due to lending growth,
high dividend payout ratios as well as the goodwill created by the
acquisition of Taaleri Asset Management during the second quarter
of 2021.
Moody’s release is available at www.aktia.com: Investors >
Debt & Funding > Rating.
Aktia Bank Plc
Further information:Outi Henriksson, CFO, tel. +358 10 247
6236Timo Ruotsalainen, Head of Treasury, tel. +358 10 247 7211
Aktia is a Finnish asset manager, bank and life insurer that has
been creating wealth and wellbeing from one generation to the next
for 200 years. We serve our customers in digital channels
everywhere and face-to-face in our offices in the Helsinki, Turku,
Tampere, Vaasa and Oulu regions. Our award-winning asset management
business sells investment funds also internationally. We employ
approximately 900 people around Finland. Aktia's assets under
management (AuM) 30/06/2022 amounted to EUR 13.9 billion and the
balance sheet total was EUR 11.9 billion. Aktia's shares are listed
on Nasdaq Helsinki Ltd (AKTIA). aktia.com
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