Paris, France, June 26, 2017

Credit rating following announcement of the business combination with Eurosic

Following announcement of the business combination with Eurosic, rating agencies have confirmed Gecina’s high credit quality.

Today, Moody's confirmed Gecina’s rating at A3 with a change from stable outlook to negative outlook though, waiting for the publicly announced disposals program to be realised to pull its LTV back below 40%.

Standard and Poor’s confirmed on June 21, 2017 Gecina’s credit rating to BBB+ / outlook positive.

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