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    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
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Delayed Nasdaq Helsinki  -  11:29 2022-09-29 am EDT
13.14 EUR   -2.09%
07:20aFORTUM OYJ : Goldman Sachs sticks Neutral
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09/28Finland's Finance Minister Says Uniper Acquisition Years Ago a Mistake
MT
09/28Buying Uniper was 'a mistake', Finnish finance minister says
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S&P affirms Uniper's long-term credit rating in step towards bailout

07/29/2022 | 04:30pm EDT
FILE PHOTO: FILE PHOTO: The Uniper logo is seen in front of the utility's firm headquarters in Duesseldorf

BERLIN (Reuters) - Ratings agency S&P affirmed Uniper's long-term credit rating at BBB- with a negative outlook on Friday, fulfilling one of the conditions for Germany's 15 billion-euro ($15.32 billion) bailout package of the gas importer.

The package, among the biggest in German corporate history, still needs approval from the European Commission and the backing of Uniper shareholders.

It carries certain conditions, including that Uniper withdraw a lawsuit against the Netherlands over its coal phase-out as well as a commitment by the Duesseldorf-based group to suspend dividend payments for the duration of its stabilisation period.

The support of Germany's federal government contributed to S&P's decision to affirm the rating, it said in a statement.

The outlook negative rating indicates a potential downgrade is less imminent or likely than was the case under Uniper's previous rating of "CreditWatch negative."

"This outlook reflects prevailing uncertainty surrounding gas flows and the fact that details of the stabilisation package are still to be approved," S&P said.

($1 = 0.9792 euro)

(Reporting by Victoria Waldersee in Berlin; Editing by Matthew Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FORTUM OYJ -2.09% 13.14 Delayed Quote.-50.28%
UNIPER SE -3.16% 3.922 Delayed Quote.-90.62%
All news about FORTUM OYJ
07:20aFORTUM OYJ : Goldman Sachs sticks Neutral
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Analyst Recommendations on FORTUM OYJ
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Financials
Sales 2022 125 B 122 B 122 B
Net income 2022 -3 242 M -3 167 M -3 167 M
Net Debt 2022 6 074 M 5 932 M 5 932 M
P/E ratio 2022 -2,99x
Yield 2022 7,01%
Capitalization 11 672 M 11 401 M 11 401 M
EV / Sales 2022 0,14x
EV / Sales 2023 0,15x
Nbr of Employees 18 961
Free-Float 47,1%
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Technical analysis trends FORTUM OYJ
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 13,14 €
Average target price 16,86 €
Spread / Average Target 28,3%
EPS Revisions
Managers and Directors
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Bernhard Günther Chief Financial Officer
Veli-Matti Reinikkala Chairman
Anja McAlister Deputy Chairman
Essimari Kairisto Independent Director
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