On 21 December 2022 Moody’s Investors Service (Moody’s) published an updated JSC “Development Finance Institution Altum” (ALTUM) credit opinion – update following the affirmation of Baa1 long-term issuer rating with outlook stable and baa3 the baseline credit assessment (BCA) on 16 December 2022.

For the first time the credit opinion includes ALTUM ESG Credit Impact Score assessed at Moderately Negative CIS-3 level (in scale where CIS-1 is the best and CIS-5 the lowest level). The score reflects that ESG considerations having a limited impact on the current rating, as government support and sizeable capital buffers mitigates the exposure to ESG risks. ALTUM’s ESG Issuer Profile Scores are set at E-3 for Environmental, S-3 for Social and G-3 for Governance.

JSC Attīstības finanšu institūcija Altum (JSC Development Finance Institution Altum) is a Latvia state-owned company that ensures access of the enterprises and households to the financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy and enhancing mobilization of the private capital and financial resources. On 16 December 2022 Moody’s Investors Service (Moody’s) reaffirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was reaffirmed at baa3 as well. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv