Vattenfall downgraded by Fitch as pressures mount

03 Oct 2011

Vattenfall, the Swedish power group, was downgraded one notch by Fitch on Monday, to A-, as the agency forecast challenging conditions and regulatory pressures for the company.

The state-owned group’s short term rating has been cut from F1 to F2, and its subordinated capital rating from BBB+ to BBB.

“We focus on our ratings from Standard & Poor’s and Moody’s – the Fitch rating is an unsolicited one,” said Johan Gyllenhoff, group treasurer of Vattenfall in ...

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