Lyon, City of: Credit Rating Report

DBRS Ratings GmbH (Morningstar DBRS) changed the trend on the City of Lyon's Long-Term Issuer Rating to Negative from Stable and confirmed the rating at AA (high). Morningstar DBRS also changed the trend on Lyon's EUR 500 million Euro Medium Term Note Programme's (EMTN Programme) rating to Negative from Stable and confirmed the rating at AA (high). At the same time, Morningstar DBRS confirmed Lyon's Short-Term Issuer Rating and its EUR 150 million Negotiable European Commercial Paper Programme's (NEU CP Programme) rating at R-1 (high). The trend on all Short-Term ratings remains Stable.