Rating Report

DBRS Morningstar Confirms Republic of France at AAA, Stable Trend

Sovereigns

Summary

DBRS Ratings Limited (DBRS Morningstar) confirmed the Republic of France’s Long-Term Foreign and Local Currency – Issuer Ratings at AAA. At the same time, DBRS Morningstar confirmed the Republic of France’s Short-Term Foreign and Local Currency – Issuer Ratings at R-1 (high). The trends on all ratings are Stable.