Kuntarahoitus Oyj - Company Announcement

Moody's maintains Municipality Finance Plc's Aaa credit rating

Municipality Finance Plc
Stock exchange release
17 December, 2015, 13:00 (CET +1)

Moody's maintains Municipality Finance Plc's Aaa credit rating

The credit rating agency Moody's updated its analysis on Municipality Finance
Plc's credit ratings on December 16, 2015. The agency's long-term credit rating
on Municipality Finance Plc is still Aaa (neg.).

According to Moody's' assessment, Municipality Finance's strong ratings are
based among other things on the company's importance to the Finnish regional and
local government sector, the explicit guarantee for its funding of the Aaa rated
Municipal Guarantee Board, good asset quality, predictable financial
performance, effective diversification of funding and adequate capitalisation
related to the company's risks.

The credit rating was affirmed in Moody's Credit Opinion. In the same report
Moody's also assessed Municipality Finance's counterparty risk and positioned
the company at Aaa (cr).

MUNICIPALITY FINANCE PLC

Further information:

Pekka Averio
President and CEO
tel. +358 500 406 856

Esa Kallio
Executive VP, Deputy to the CEO, Head of Capital Markets
Tel. +358 50 3377 953

Measured by the group's balance sheet, Municipality Finance Plc (MuniFin) is
Finland's third largest credit institution. The company is owned by Finnish
municipalities, the public sector pension fund Keva and the Republic of Finland.
MuniFin is an integral part of the Finnish public economy.

MuniFin's balance sheet totals nearly EUR 34 billion. Funding for the company is
primarily obtained through the international capital markets. MuniFin's funding
is guaranteed by the Municipal Guarantee Board.

MuniFin's mission is to ensure competitive funding for its customers in all
market conditions. The company's customers are Finnish municipalities, municipal
federations, municipally controlled companies and non-profit housing
corporations. A significant portion of lending is used for socially responsible
projects such as building hospitals, healthcare centers, schools, day care
centers and homes for the elderly.

The Municipality Finance Group also includes the subsidiary company, Financial
Advisory Services Inspira Ltd.

Read more: www.munifin.fi






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