Moody´s Ratings has changed Landsvirkjun’ s outlook from stable to positive and affirmed Landsvirkjun’ s credit rating of Baa1. The Baseline Credit Assessment (BCA) has been upgraded to baa3 from ba1.

According to Moody´s the change of outlook to positive, and the BCA upgrade, acknowledges the company's strong operational performance in recent years, along with a strengthening of its financial profile and deleveraging. Additional influential factor for Moody´s is its revision of outlook for Iceland from stable to positive in July 2023.

Furthermore, the positive outlook indicates that Moody´s could upgrade Landsvirkjun if Moody´s were to take a similar action on Iceland and if Landsvirkjun continued to show strong cash flow and key financial ratios.

For further information please contact Rafnar Larusson, CFO

Phone nr. +354 515 9000 or by email: rafnar@lv.is