STOCKHOLM (Standard&Poor's) Aug. 12, 2005--Standard&Poor's Ratings Services said today it raised its long-term corporate credit rating on Finland-based utility Fortum Oyj to 'A-' from 'BBB+'. At the same time, the 'A-2' short-term corporate credit rating and 'K-1' Nordic-scale rating were affirmed. The outlook is stable. "The upgrade of the long-term ratings on Fortum reflects the group's decreased business risk following the demerger of its oil business, continuing strong operating performance, and its solid financial prospects," said Standard&Poor's credit analyst Andreas Zsiga. The recent demerger of the higher-risk oil business also contributed to a further debt reduction. The financial improvement of recent years has boosted Fortum's financial position. Future financial prospects are solid, underpinned by
