GDF SUEZ's major competitive advantage, resulting from its comprehensive scale, leading market positions, and significant business and geographic diversity, continue to support our view of the group's "excellent" business risk profile. We are affirming our 'A/A-1' ratings on GDF SUEZ and its related subsidiaries and removing them from CreditWatch negative. The negative outlook reflects our opinion of continued uncertainty regarding GDF SUEZ's European operations and ongoing pressure on profitability from a challenging market environment and that GDF SUEZ could struggle to consistently maintain cash flow credit metrics commensurate with the ratings over the next 18-24 months. On May 6, 2013, Standard&Poor's Ratings Services affirmed its 'A/A-1' long- and short-term corporate credit ratings on global multi-utility GDF SUEZ S.A.
