French Public Hospital Group AP-HP Outlook Revised To Stable After Similar Action On France; 'AA/A-1+' Ratings Affirmed

On Oct. 21, 2016, S&P Global Ratings revised its outlook on France to stable from negative and affirmed its 'AA/A-1+' sovereign credit ratings. We are therefore revising our outlook on Assistance Publique - Hopitaux de Paris (AP-HP) to stable from negative and affirming our 'AA/A-1+' ratings on the group. The stable outlook reflects that on France. On Oct. 25, 2016, S&P Global Ratings revised its outlook on French public hospital group Assistance Publique - Hopitaux de Paris (AP-HP) to stable from negative. We affirmed our 'AA' long-term and 'A-1+' short-term issuer credit ratings on the group. The outlook revision follows a similar action on France on Oct. 21, 2016 (see " Outlook On France Revised To Stable On Steadying Growth

...+ On Oct. 21, 2016, S&P Global Ratings revised its outlook on France to stable from negative and affirmed its '##/A-1+' sovereign credit ratings. + We are therefore revising our outlook on Assistance Publique - Hopitaux de Paris (AP-HP) to stable from negative and affirming our '##/A-1+' ratings on the group. + The stable outlook reflects that on France. On Oct. 25, 2016, S&P Global Ratings revised its outlook on French public hospital group Assistance Publique - Hopitaux de Paris (AP-HP) to stable from negative. We affirmed our '##' long-term and 'A-1+' short-term issuer credit ratings on the group. The outlook revision follows a similar action on France on Oct. 21, 2016 (see " Outlook On France Revised To Stable On Steadying Growth And Fiscal Outcomes; '##/A-1+' Ratings Affirmed" published on RatingsDirect). We consider AP-HP to be a government-related entity (GRE). In our view, there is an almost certain likelihood that AP-HP would receive timely and sufficient extraordinary support...

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