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BULLETIN: Fortum Oyj Bid for E.ON Finland Has No Implications for 'BBB+/A-2' Ratings

Published Jan 17, 2005

361 words — Published Jan 17, 2005

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Abstract:

STOCKHOLM (Standard&Poor's) Jan. 17, 2005--Standard&Poor's Ratings Services said today that Finland-based energy company Fortum Oyj's (BBB+/Stable/A-2) decision to acquire E.ON Finland has no ratings implications. The combined acquisition price, consisting of a €390 million call option for E.ON AG's (AA-/Stable/A-1+) 65% stake in the company and a €257 million cash offer for the City of Espoo's 34% stake, is affordable within Fortum's rating. E.ON Finland's electricity distribution and heating utility operation made a €52 million net profit in the first nine months of 2004. The company is virtually debt free, and will fit well with Fortum's Nordic utility strategy. GROUP E-MAIL ADDRESS InfrastuctureEurope@standardandpoors.com

Brief Excerpt:

RESEARCH BULLETIN: Fortum Oyj Bid for E.ON Finland Has No Implications for '###+/A-2' Ratings Publication date: 17-Jan-2005 STOCKHOLM (Standard & Poor's) Jan. 17, 2005--Standard & Poor's Ratings Services said today that Finland-based...

Report Type:

Bulletin

Ticker

FUM1V@FH

Issuer

Fortum Oyj

GICS

Electric Utilities (55101010)

Sector

Global Issuers, Structured Finance

Country

Finland

Region

Europe, Middle East, Africa

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "BULLETIN: Fortum Oyj Bid for E.ON Finland Has No Implications for 'BBB+/A-2' Ratings" Jan 17, 2005. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/BULLETIN-Fortum-Oyj-Bid-for-E-ON-Finland-Has-No-Implications-for-BBB-A-2-Ratings-418569>

APA:	S&P Global Ratings’ Credit Research. (). BULLETIN: Fortum Oyj Bid for E.ON Finland Has No Implications for 'BBB+/A-2' Ratings Jan 17, 2005. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/BULLETIN-Fortum-Oyj-Bid-for-E-ON-Finland-Has-No-Implications-for-BBB-A-2-Ratings-418569>

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