PARIS (Standard&Poor's) Dec. 17, 2004--Standard&Poor's Ratings Services said today that it will review the ratings on France-based Electricité de France (EDF; AA-/Negative/A-1+), Europe's largest electric utility, in the first half of 2005, following further clarification on how put options in relation to Edison SpA and Energie Baden Wuerttemberg AG (EnbW) will be exercised and after final details on France's pension reform are available. More information on the planned capital increase and recently announced operating improvements is also expected. "As already reflected in the negative outlook, a lowering of the long-term corporate credit rating to the "A" category is possible," said Standard&Poor's credit analyst Karl Nietvelt. "Pressure on the rating could nevertheless ease if EDF
