Fitch Affirms French's Region of Rhone-Alpes; Withdraws Ratings

Fri Jan 10, 2014 11:35am EST

PARIS/MILAN, January 10 (Fitch) Fitch Ratings has affirmed the Region of Rhone-Alpes' Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AA+', and its Short term foreign currency IDR at 'F1+'. The Outlooks are Stable. The ratings have simultaneously been withdrawn. Fitch has withdrawn the ratings as Rhone-Alpes has chosen to stop participating in the rating process. Therefore, the agency will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for Rhone-Alpes. The rating actions are as follows: - Long-term foreign and local currency IDRs: affirmed at 'AA+'/Outlook Stable; ratings withdrawn - Short-term IDR: affirmed at 'F1+'; rating withdrawn - EUR1bn EMTN programme affirmed at 'AA+'/'F1+'; ratings withdrawn - EUR120m senior unsecured debt affirmed at 'AA+'; rating withdrawn - EUR300m billets de tresorerie programme: affirmed at 'F1+'; rating withdrawn Contact: Primary Analyst Arnaud Dura Associate Director + 33 1 44 29 91 34 Fitch France S.A.S. 60, rue de Monceau 75008 Paris Secondary Analyst David Lopes Associate Director + 33 1 44 29 91 45 Committee Chairperson Raffaele Carnevale Senior Director +39 02 07 90 87 203 Media Relations: Francoise Alos, Paris, Tel: +33 1 44 29 91 22, Email: francoise.alos@fitchratings.com; Peter Fitzpatrick, London, Tel: +44 20 3530 1103, Email: peter.fitzpatrick@fitchratings.com. Additional information is available on www.fitchratings.com. Applicable criteria, "Tax-Supported Rating Criteria", dated 14 August 2012, "International Local and Regional Governments Rating Criteria", dated 9 April 2013 on www.fitchratings.com Applicable Criteria andALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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