Reykjavík, 2016-09-05 19:15 CEST (GLOBE NEWSWIRE) -- Moody’s Investors Service today upgraded to Ba2 the issuer rating of Orkuveita Reykjavíkur (OR). Concurrently, the outlook has been changed to stable. In Moody‘s attached rationale for the upgrade, the company states that it reflects the progress the company has made with regard to strengthening its financial profile and improving its liquidity position in the context of a continuing improvement in the macroeconomic environment and market conditions in Iceland. In the attached release, Moody’s states that it expects that OR should be able to maintain its improved financial performance and good liquidity position.
Contact:
Ingvar Stefánsson
CFO
+354 516 6100
