Report

Moody's Ratings changes outlooks on SNCF S.A. and SNCF Réseau to negative following outlook change on the Government of France

Moody's Ratings (Moody's) changed to negative from stable the outlooks on SNCF S.A. (SNCF) and its subsidiary SNCF Réseau. Concurrently, we affirmed the A1 long-term issuer rating of SNCF as well as its (P)A1 senior unsecured medium term notes programme rating, its A1 senior unsecured ratings, its (...
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Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

  • 130 countries
    11,000 corporate issuers
    21,000 public finance issuers
    76,000 structured finance obligations



Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.



Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions. 

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