Wednesday, May 29, 2024

The credit rating agency downgrades the financial outlook for Oslo municipality

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Oslo municipality maintains the top rating in a new credit rating. Photo: Håkon Mosvold Larsen / NTB

Of NTB | 10.05.2024 22:44:02

Policy: With the top rating AAA, it is considered that Oslo municipality has a very strong ability to service its obligations, writes the municipality in a press release.

The outlook for the future rating is simultaneously downgraded from “stable” to “negative”. This does not change the rating, but means that S&P Global Ratings considers the risk of a possible downgrade during the next two years to have exceeded one third. The reason for the adjustment is development in operating profit and debt ratio, according to the municipality.

– I am pleased that S&P Global Ratings confirms Oslo municipality’s AAA rating. The city council is working to ensure that Oslo municipality retains the top rating in the future as well, says finance councilor Hallstein Bjercke (V).

Two weeks ago, the credit rating agency Moody’s also gave the municipality of Oslo a top rating. At the same time, they maintained that the outlook for the future rating is “stable”.

(© NTB)

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