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Rating

The Groups financial structure is assessed by the two leading international specialised ratings agencies: Standard & Poors and Moodys. On 22 July 2009, Standard & Poors reduced its rating of Hera from A2 with stable outlook to BBB+ with stable outlook due to its long term debt, while Moodys changed its credit rating of Hera, giving it a rating of A3 (from A2) with a stable outlook (from a previous negative outlook).

2010 results significantly improve the financial ratio evaluated by rating agencies.

 
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