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Thales -- Moody's changes outlook on Thales' ratings to stable; affirms ratings

Moody's Investors Service ("Moody's") has today affirmed Thales' A2 long term senior unsecured ratings and its P-1 short-term ratings. "Our decision to affirm Thales' A2 rating and change the outlook to stable from negative reflects our expectation that despite Thales' acquisition of Gemalto for an enterprise value of E5.6 billion, key credit metrics will not meaningfully deteriorate compared to previous expectations.