Standard&Poor's Ratings Services rates France-based multi-utility GDF SUEZ in accordance with its criteria for government-related entities (GREs). Because we believe that there is a "low" likelihood of extraordinary government support in the event of financial distress, our 'A' long-term corporate credit rating on GDF SUEZ stands at the same level as our 'a' assessment of GDF SUEZ's stand-alone credit profile. Our view of a "low" likelihood of extraordinary government support is based on our assessment of the "limited importance" of GDF SUEZ's role for the state and GDF SUEZ's "limited" link with the state. We consider GDF SUEZ's role to be of "limited importance" to the French economy, as nuclear power generation, not gas, has been the cornerstone
