Standard&Poor's Ratings Services said today that its ratings and outlook on Finland-based energy utility company Fortum Oyj (BBB+/Stable/A-2) remain unaffected by the asset swap valued at €800 million ($860 million) with E.ON AG (AA-/Stable/A-1+). The transaction also includes a cash payment from Fortum of €150 million to E.ON. Although Standard&Poor's expects Fortum to further reduce debt, the cash payment is commensurate with expected capital expenditure and acquisition levels. Furthermore, Standard&Poor's assesses that Fortum will strategically benefit from a strengthening of its Nordic core energy operation. ANALYST E-MAIL ADDRESSES andreas_zsiga@standardandpoors.com maria_gillholm@standardandpoors.com infrastructureeurope@standardandpoors.com
