The ratings on GDF SUEZ S.A. reflect its scale and diversity; significant presence in both power (through Belgian power incumbent Electrabel) and gas (through GDF); leading market share in power in Benelux supported by Electrabel's nuclear generation focus, and gas in France; significant share of regulated operations; leading position in Europe and the Atlantic basin in liquefied natural gas (LNG); and solid financial profile. These strengths are partly offset by GDF SUEZ's extensive investment program and shareholder returns. Moreover, while GDF SUEZ is a leading player in Benelux in electricity, it is only a challenger in the other European markets in which it is present, including France. The group also has some exposure to more competitive or volatile overseas markets.
