Orkuveita Reykjavíkur - Company Announcement

Moody‘s upgrades OR‘s rating

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

Attachments:

Moodys Rating Action Sep 2016.pdf