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Credit ratings

                            Standard & Poor's                               Moody's
Long termPerspectiveShort termLast publicationLong termPerspectiveShort termLast publication
BouyguesA-NegativeA-208-December-20A3StableP-206-July-18
A-StableA-212-July-19StableP-206-July-18
BBB+PositiveA-212-July-18A3PositiveP-207-July-17
BBB+PositiveA-227-July-17BAA1StableP-203-July-15
BBBPositiveA-306-July-16BAA1StableP-205-March-14
BBBStableA-302-June-14BAA1NegativeP-207-June-13

STANDARD & POOR’S RATING: A-/NEGATIVE OUTLOOK (08 December 2020)

STANDARD & POOR’S RATING: A-/STABLE OUTLOOK (12 July 2019)

STANDARD & POOR’S RATING: BBB+/POSITIVE OUTLOOK (12 July 2018)

MOODY'S RATING: A3/STABLE OUTLOOK (6 July 2018)

MOODY'S RATING: BAA1/POSITIVE OUTLOOK (7 July 2017)

STANDARD & POOR’S RATING: BBB+/POSITIVE OUTLOOK (27 June 2017)

STANDARD & POOR’S RATING: BBB/POSITIVE OUTLOOK (6 July 2016)

Moody's rating: Baa1/stable outlook (3 July 2015)

Standard & Poor’s rating: BBB/stable outlook, versus BBB+ previously (2 June 2014)

Moody’s rating: Baa1(with stable outlook) from A3 (5 March 2014)

(Updated: 09 December 2020)