Update regarding our NEU CP rating for FIMALAC SE

Madrid, July 27, 2023

As the credit rating agency that publicly rates the NEU CP programme of Fimalac SE, EthiFinance Ratings has been monitoring the situation regarding French food retailer Casino and the potential investment that Fimalac is willing to make, along with EPGC and Attestor, to take over the group.

Although not disclosed, due to confidentiality regarding ongoing negotiations, Fimalac’s potential investment in Casino was already factored into our rating action dated July 5, 2023 (which was to reaffirm our rating to EF1+).

As it stands, the current situation of the offer is in line with EthiFinance Ratings’ projections and therefore does not affect our NEU CP rating.

EthiFinance Ratings will continue to monitor the situation, jointly with Fimalac.

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