TEXT-S&P corrects rtg on Utility EDF's EUR2 Bil nts to 'A+'

(The following statement was released by the rating agency)

Jan 31 -Standard & Poor's Ratings Services said today that it lowered its long-term issue rating to 'A+' from 'AA-' on the EUR2 billion senior unsecured notes due January 18, 2022, issued by France-based utility Electricite de France S.A. (EDF; A+/Stable/A-1). The rating was also removed from CreditWatch with negative implications, where it was placed on Jan. 13, 2012.

Due to an error, we did not lower the rating on the notes and remove it from CreditWatch negative at the time of our latest rating action on EDF on Jan. 17, 2012.

Our other ratings on EDF are unaffected by today's action.

RELATED CRITERIA AND RESEARCH

-- French Power Utility EDF Downgraded To 'A+/A-1' Following Similar Action On France; Outlook Stable, Jan. 17, 2012

-- France's Unsolicited Long-Term Ratings Lowered To 'AA+'; Outlook Negative, Jan. 13, 2012

-- Principles Of Credit Ratings, Feb. 16, 2011

-- Nonsovereign Ratings That Exceed EMU Sovereign Ratings: Methodology And Assumptions, June 14, 2011

-- Rating Government-Related Entities: Methodology And Assumptions, Dec. 9, 2010

-- Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Sept. 28, 2011

-- Stand-Alone Credit Profiles: One Component Of A Rating, Oct. 1, 2010

-- Use Of CreditWatch And Outlooks, Sept. 14, 2009

-- Criteria Methodology: Business Risk/Financial Risk Matrix Expanded, May 27, 2009

-- Corporate Criteria--Parent/Subsidiary Links; General Principles; Subsidiaries/Joint Ventures/Nonrecourse Projects; Finance Subsidiaries; Rating Link To Parent, Oct. 28, 2004

Ratings List

Downgraded; CreditWatch Action

To From

Electricite de France S.A.

Senior Unsecured A+ AA-/Watch Neg