French Integrated Energy Company EDF 'A-/A-2' Ratings Affirmed Following Lower 2017 Earnings Guidance; Outlook Stable

French power utility EDF has announced weaker-than-anticipated EBITDA guidance for 2017 on the back of unplanned nuclear outages. We believe this negative credit development is manageable under the current ratings. At the same time, the disposal program is progressing well and the planned capital increase should help to reduce debt. We are therefore affirming all of our ratings on EDF and its subsidiaries. The outlook is stable. PARIS (S&P Global Ratings) Dec. 20, 2016--S&P Global Ratings today said it has affirmed its 'A-/A-2' long- and short-term corporate credit ratings on French power utility Electricité de France S.A. (EDF). The outlook remains stable. At the same time, we affirmed all of our ratings on EDF's subsidiaries. The rating affirmation follows the

...+ French power utility EDF has announced weaker-than-anticipated EBITDA guidance for 2017 on the back of unplanned nuclear outages. + We believe this negative credit development is manageable under the current ratings. + At the same time, the disposal program is progressing well and the planned capital increase should help to reduce debt. + We are therefore affirming all of our ratings on EDF and its subsidiaries. + The outlook is stable. PARIS (S&P Global Ratings) Dec. 20, 2016--S&P Global Ratings today said it has affirmed its 'A-/A-2' long- and short-term corporate credit ratings on French power utility ElectricitT de France S.A. (EDF). The outlook remains stable. At the same time, we affirmed all of our ratings on EDF's subsidiaries. The rating affirmation follows the group's announcement that the unplanned outages on behalf of its French nuclear fleet will have a material negative impact on the group's operating performance and that EBITDA will now range from 13.7 billion-14.3 billion...

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