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Standard & Poor's affirms credit ratings and raises SACP to bb-

August 4, 2016

Standard & Poor's credit rating agency has affirmed Landsvirkjun's credit ratings at BBB-/A-3. The ratings apply to long- and short-term commitments with and without the guarantee of collection.

Concurrently, Standard & Poor's has raised the company's stand-alone credit profile (SACP) to bb- from b+. The revised rating reflects the consistent strengthening in Landsvirkjun's credit measures, in particular the success in reducing leverage.

Outlook is stable.

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