CREDIT RATINGS

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AGENCY
As of today
Before last review
Date of review
Moody's
Ba1 / Stable Outlook*
Ba1 / Positive Outlook
October 2018
S&P
BB+ / Stable Outlook
BB+ / Negative Outlook
April 2015
Fitch
BBB- / Stable Outlook
BB+ / Positive Outlook
October 2017
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*Moody's stated that this review is not due to Leonardo's stand-alone credit rating but is the consequence of Italy's country downgrade

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