London, 28 May 2015 -- Moody's Investors Service ("Moody's") has today downgraded to Baa1 from A2 the senior unsecured and issuer ratings of Fortum Oyj ("Fortum"). Concurrently, Moody's has downgraded the rating of the company's EMTN programme to (P)Baa1from (P)A2. The outlook on all ratings is stable. This completes the review of the ratings that was initiated on 26 March 2015.

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