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Credit Ratings

A credit rating is an evaluation made by a Credit Rating Agency (“CRA”) of the credit risk of a prospective debtor (e.g. a company or a government). The credit rating represents an evaluation of both qualitative and quantitative information for the prospective debtor and may rate the creditworthiness of either Issuers of Debt Obligations or specific Debt Instruments.

Standard & Poor's is a globally leading CRA.

For further information on Standard & Poor's rating system, visit their website at:

www.standardandpoors.com

	Standard & Poor’s
Rating	BBΒ-
Outlook	Outlook Stable
Last Rating change	October 2019
Analysts	Thibaud Lagache