IMPACT DE LA NOUVELLE CARTE RGIONALE SUR LES RGIONS NOTES

La rforme territoriale en cours se traduira par une nouvelle carte rgionale au 1er janvier 2016 constitue de 13 rgions mtropolitaines contre 22 actuellement. Standard & Poors Ratings Services a intgr les impacts de cette rforme dans ses notations de 8 rgions mtropolitaines concernes par un changement de primtre (sur les 11 notes).

Corse

AquitaineAA/Ngative/A-1+

AlsaceLorraineChampagne-

ArdenneAA-/Stable/A-1+

Bourgogne

Picardie

Nord-Pas-de-CalaisA+/Stable/A-1

Haute-Normandie

Basse-Normandie

Bretagne

Franche-Comt AA/Ngative/A-1+

Rhne-AlpesAA-/Stable/A-1+Auvergne

AA-/Stable/A-1+

LimousinAA/Ngative/

Poitou- Charentes

Midi-Pyrnes

Languedoc-RoussillonAA-/Stable/A-1+

Provence Alpes Ct d'Azur

LGENDE Rgions notes par S&P non-concernes par la rforme

Pour les rgions notes par S&P et concernes par la rforme, celle-ci a un : impact lgrement favorable impact neutre impact lgrement dfavorable

Centre-Val de LoireAA/Ngative/A-1+

Pays de la LoireAA/Ngative/A-1+

le-de-FranceAA/Ngative/A-1+

Source: Standard & Poors Rating Services. Ratings. All ratings are as of June 19, 2015. The analyses, including ratings, of Standard & Poors and its affiliates are opinions and not statements of fact or recommendations to purchase, hold, or sell securities. They do not address the suitability of any security, and should not be relied on in making any investment decision. Standard & Poors does not act as a fiduciary or an investment advisor except where registered as such.Copyright 2015 by Standard & Poors Financial Services LLC. All rights reserved. STANDARD & POORS and S&P are registered trademarks of Standard & Poors Financial Services LLC.