Standard and Poor's rating

Standard & poor's lowered SAGESS's rating, following action on France ratings.

Following France lowered ratings from AAA to AA+ (with outlook negative), Standard & Poor's has lowered SAGESS's ratings on January 17, 2012.

A a consequence of the integral link between SAGESS and the French Government and the critical role played by SAGESS in the management of strategic oil reserves, SAGESS's ratings have been equalized with that on France, with a lowering from AAA to AA+ (with outlook negative).

SAGESS's short term rating is unchanged at A-1+.

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Standard & Poor's update of SAGESS 1 400 M€ commercial paper program rating

On December 15, 2011 Standard & Poor's has confirmed the A-1+ rating of SAGESS 1400 M€ commercial paper program.

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SAGESS rating placed on watch negative, following similar action on France

On December 7, 2011 Standard & Poor's has placed SAGESS long-term issuer credit rating on credit watch with negative implication.

This placement reflects a similar action on France rating (and 5 other european countries) at the same date.

SAGESS short term rating is unchanged at A-1+.

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Rating analysis - November 2011

Standard & Poor’s confirms SAGESS’ ratings : AAA, in line with France

On November 18, 2011 Standard & Poor’s has renewed its AAA long-term and A-1+ short-term issuer credit rating on SAGESS. These ratings are aligned on France’s ratings. They will allow SAGESS to reach the financial markets in the best conditions.

In its ratings, Standard & Poor’s has based its approach on two critical factors:

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Rating analysis – November 2010

For the 9th year running, Standard & Poor’s recognized SAGESS’ short and long-term financial stability by giving AAA-rating for long term debt and A-1+ rating for short term debt. See the full analysis released on Novembre 26, 2010.

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Rating analysis – November 2009

On November 2, 2009, Standard & Poor’s confirmed its AAA/Stable/A-1+ rating for SAGESS. See the full analysis.

Standard and Poor's rating

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