Yahoo Finance Moody’s downgrades Aktia’s ratings and upgrades outlook to stable
Aktia Bank Plc
Press Release
27 September 2022 at 5.30 p.m.
Moody’s downgrades Aktia’s ratings and upgrades outlook to stable
The credit rating agency Moody's Investors Service has on 26 September 2022 decided to downgrade Aktia Bank Plc's long-term deposit and senior unsecured debt ratings to A2 from A1 and changed the outlook to stable from negative. Furthermore, the rating agency downgraded the Baseline Credit Assessment (BCA) and adjusted BCA to baa1, from a3. All short-term ratings and assessment were affirmed at P-1.
According to Moody’s release, the downgrade reflects a multiyear trend of declining capital metrics, mainly due to lending growth, high dividend payout ratios as well as the goodwill created by the acquisition of Taaleri Asset Management during the second quarter of 2021.
Moody’s release is available at www.aktia.com: Investors > Debt & Funding > Rating.
Aktia Bank Plc
Further information:
Outi Henriksson, CFO, tel. +358 10 247 6236
Timo Ruotsalainen, Head of Treasury, tel. +358 10 247 7211
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds also internationally. We employ approximately 900 people around Finland. Aktia's assets under management (AuM) 30/06/2022 amounted to EUR 13.9 billion and the balance sheet total was EUR 11.9 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com
