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On 5 May 2026, S&P Global Ratings revised Municipality Finance Plc’s (MuniFin) rating outlook to negative from stable, a change that also applies to the Municipal Guarantee Board. This revision reflects S&P Global Ratings’ corresponding outlook change for the Republic of Finland on 24 April 2026. MuniFin's long-term credit rating remains at AA+, and its short-term issuer credit rating remains at A-1+.
| Date | 5 May 2026 |
| Time | 16:00:00 |
| Category | Miscellaneous |
| ID | nsm:597c54b4-3e93-4329-b2b2-eb50fbaebfca.html |
Disseminated via GNW on 5 May 2026
Municipality Finance Plc
Stock Exchange Release
5.5.2026 at 6:00 pm (EEST)
S&P Global Ratings Revised Municipality Finance Plc’s Rating Outlook to Negative
Credit rating agency S&P Global Ratings revised its outlook on Municipality Finance Plc (“MuniFin”) to negative from stable on 5 May 2026. MuniFin’s long-term credit rating remains at AA+. The revision applies also to the Municipal Guarantee Board, the guarantor of MuniFin’s funding.
Revision of MuniFin’s outlook reflects the corresponding change to S&P Global Ratings’ outlook on the Republic of Finland on 24 April 2026. S&P Global Ratings’ negative outlook reflects persistent risks to Finnish public finances stemming from low growth, aging demographics, and rising defense and interest expenditure.
S&P Global Ratings’ short-term issuer credit rating on MuniFin remains at A-1+ which is the highest possible rating.
MUNICIPALITY FINANCE PLC
Further information:
Esa Kallio
President and CEO
tel. +358 50 337 7953
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
The Group’s balance sheet is over EUR 55 billion.
MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.
Read more: https://www.kuntarahoitus.fi/en/
