Milan, September 21, 2015 -- Moody's Investors Service, ("Moody's") has downgraded the long term issuer rating of SNCF Mobilités to Aa3 from Aa2, the senior unsecured ratings to Aa3 from Aa2 and the senior unsecured MTN rating to (P)Aa3 from (P)Aa2. The outlook on the long term rating has been changed to stable from negative. The (P)Prime-1 short-term rating and the P-1 commercial paper rating have been affirmed.
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