In our view, the recent and significant deterioration in European energy prices is structural. We believe this will erode GDF SUEZ's profitability and cash flow in the coming years and put some pressure on its credit metrics. We are placing our 'A/A-1' corporate credit ratings on GDF SUEZ (GDFS) on CreditWatch with negative implications. The CreditWatch placement reflects our view that we could revise downward our assessment of GDFS' business risk profile, and lower the ratings, in the absence of support from a strengthening financial profile. PARIS (Standard&Poor's) Jan. 29, 2013--Standard&Poor's Ratings Services said today that it has placed its 'A' long-term and 'A-1' short-term corporate credit ratings on France-based global energy player GDF SUEZ S.A.
