Rating

The issues of Dexia Municipal Agency are rated by three major agencies: Fitch, S&P and Moody's.

 

             Agency Fitch Standard & Poor's Moody's

 

 

  Rating AAA AAA  Aa2

 

 

   Outlook
   Published in
N.A.
June 2011
 watch negative
January 2012

April 2012

 

 

   Minimum over-collateralization
  for current rating
     14.5 % on review   on review

 

 

  Last published report June 2011 July 2011 June 2009

 

 

 Other information Rating placed on credit watch
Quarterly performance overview
Press release

This rating involves :

  • a quarterly review of assets,
  • an agreement on the principles and the policy of hedging interest rate,
  • the satisfaction of stress scenarios and extinguishment of the balance sheet
  • an appreciation of the relationship Dexia MA – sponsor bank, Dexia Credit Local.

 

Rating agencies validate an issue scenario compatible with this rating.

The specific management rules of Dexia MA provide additional security for investors who benefit from the legal privilege.