Moody’s downgraded Aktia’s ratings and raised the outlook
Aktia Bank Oyj
Press release
27/09/2022 at 17:30
Moody’s lowered Aktia’s credit ratingp and updates outlook to the stable
On September 26, 2022, the credit rating agency Moody’s Investors Service decided to lower Aktia Pankki Oyj’s long-term deposits and unsecured debt rating from A1 to A2 and changed the outlook to stable from negative. In addition, the credit rating agency lowered the BCA rating (Baseline Credit Assessment) and changed the BCA from baa1 to a3. All short-term ratings and estimates were confirmed in P-1.
According to Moody’s press release, the rating downgrade reflects a multi-year downward trend in capital measures, which is mainly due to the growth in lending, high dividend payout ratios and the goodwill generated from the acquisition of Taaleri Asset Management in the second quarter of 2021.
Moody’s publication is available at www.aktia.com: Investors > Debt & Funding > Rating.
Aktia Bank Oyj
More information:
Outi Henriksson, CFO, tel. +358 10 247 6236
Timo Ruotsalainen, CFO, tel. +358 10 247 7211
Aktia is a Finnish asset manager, banking and life insurance company that has been creating wealth and well-being from generation to generation for 200 years. We serve our customers in digital channels everywhere and face-to-face at our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business also sells investment funds internationally. We employ around 900 people all over Finland. Aktia’s assets under management (AuM) on June 30, 2022 were EUR 13.9 billion and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Oy (AKTIA). aktia.com