S&P places EDF’s rating on watch with negative implications

PARIS (Agefi-Dow Jones)–The rating agency S&P Global Ratings announced on Monday that it has placed the long-term credit rating “BBB+” of Electricité de France (EDF), as well as a set of other ratings of the electrician, under surveillance with negative implications. This decision follows the earnings warning issued Thursday evening by the group due to the prolonged shutdown of several nuclear reactors and the tariff shield put in place by the French government on electricity prices. “The placement on Negative Watch takes into account the significant charge that will weigh on EDF’s results in 2022 and the high degree of uncertainty about the company’s corrective measures as well as the nature, timing and amount of a potential government support,” S&P said. “At this stage, we consider that the potential downgrade is limited to one notch,” the agency added. ([email protected]) editor: LBO

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January 17, 2022 12:50 ET (17:50 GMT)