9 July 2002 РThe announcement by the French government last week that it planned to begin a progressive sell-off of stakes in Electricité de France (EdF) and Gaz de France (GdF) has let to a re-evaluation by two rating agencies.

Moodys said it had placed its Aaa rating of EdF and Aa1 rating of GdF under review for possible downgrade. Fitch said the outlook for EdFs rating was now “negative” rather than “stable” making it likely that the AAA rating would fall to AA.