Credit and ESG ratings

Credit ratings

MuniFin’s strong credit ratings are based on our extremely low-risk customer financing portfolio, good liquidity, conservative risk policies and the guarantees granted by the Municipal Guarantee Board for our debt programmes and other funding arrangements.

Our funding is explicitly guaranteed by the Municipal Guarantee Board (MGB), and our credit ratings correspond to those of the Government of Finland. MuniFin is 100% owned by the Finnish public sector and supervised by the European Central Bank.

Rating agencyLong-term fundingShort-term funding
Moody’s Investor ServiceAa1 (stable)P-1
Standard & Poor’sAA+ (stable)A-1+

ESG ratings

ESG risk ratings measure a company’s exposure to long-term environmental, social and governance risks. Different ESG ratings employ different methodologies, so they are not directly comparable with each other. In practice, however, they cover similar themes, such as sector-specific risk, manageable risk and the company’s overall ESG strategy and operating methods. MuniFin monitors its development through the ratings of several well-known ESG rating agencies.

ProviderScore & Ranking (last assessed)ScaleOur score and latest rankingsIndustry
ISS ESGScore: C+ Prime
Ranking: Top 20% of 136 companies
(9 August 2022)
D-, D, D+, C-, C, C+, B-, B, B+, A-, A, A+Here (link)Mortgage & Public Sector Finance
SustainalyticsScore: 7.0 Negligible Risk
Ranking: Banks 13/1051
(18 March 2024)
Negligible, Low, Medium, High, SevereHere (link)Banks
S&P GlobalESG score: 37/100
Ranking: percentile 85
(17 March 2023)
0/100Here (link)FBN Diversified Financial Services and Capital Markets
Ranking: Top 36 % of 62 companies
(18 April 2023)
CCC, B, BB, BBB, A, AA, AAANot publicly available Universe: MSCI ACWI constituents, Diversified Financials, n=62