Orkuveita Reykjavíkur - Company Announcement

Moody's places OR‘s issuer rating on review for possible upgrade

Reykjavík, 2016-06-13 23:21 CEST (GLOBE NEWSWIRE) -- Moody's Investors Service
has today placed Orkuveita Reykjavikur's (OR; Reykjavík Energy) Ba3 long-term
issuer rating on review for possible upgrade. According to Moody‘s attached
announcement, today's rating action was driven by the potential strengthening
of the Icelandic government's credit profile, as captured by Moody's review for
possible upgrade of Iceland's Baa2 issuer and government bond ratings initiated
on 10 June 2016. 


         Contact:
         Brynja Kolbrún Pétursdóttir
         Head of Treasury and Planning
         Tel. + 354 516 6100

Attachments:

Moodys Rating Action Jun 2016.pdf