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TEXT-S&P ratings - Veolia Environnement S.A.

(The following statement was released by the rating agency)

Oct 10 - =============================================================================== Ratings -- Veolia Environnement S.A. ------------------------------ 10-Oct-2012 =============================================================================== CREDIT RATING: BBB+/Negative/A-2 Country: France Primary SIC: Electric and other services combined Mult. CUSIP6: 92334N Mult. CUSIP6: 928517 =============================================================================== Credit Rating History: Local currency Foreign currency 28-Jun-2000 BBB+/A-2 BBB+/A-2 =============================================================================== Issues: Rating Rating Date EUR21.44 bil med-term note Prog 11/23/2000: sr unsecd BBB+ 26-Sep-2007 EUR750 mil 5.375% bnds due 05/28/2018 BBB+ 26-Sep-2007 EUR1 bil 4.875% bnds due 05/28/2013 BBB+ 26-Sep-2007 EUR700 mil 6.125% bnds due 11/25/2033 BBB+ 26-Sep-2007 US$50 mil 4.685% med-term nts due 06/30/2015 BBB+ 26-Sep-2007 EUR875 mil 1.75% Index linked med-term nts ser 15 due 06/17/2015 BBB+ 26-Sep-2007 EUR900 mil 4.00% med-term nts ser 17 due 02/12/2016 BBB+ 26-Sep-2007 EUR600 mil 4.375% med-term nts due 12/11/2020 BBB+ 26-Sep-2007 EUR1.14 bil 4.375% med-term nts ser 21 due 01/16/2017 BBB+ 26-Sep-2007 EUR1 bil 5.125% med-term nts due 05/24/2022 BBB+ 26-Sep-2007 £650 mil 6.125% med-term nts due 10/29/2037 BBB+ 24-Oct-2007 US$700 mil 5.25% bnds due 06/03/2013 BBB+ 18-Jun-2008 US$400 mil 6.75% bnds due 06/01/2038 BBB+ 18-Jun-2008 US$700 mil 6.00% bnds due 06/01/2018 BBB+ 18-Jun-2008 EUR1.25 bil 5.25% bnds due 04/24/2014 BBB+ 17-Apr-2009 EUR750 mil 6.75% bnds due 04/24/2019 BBB+ 17-Apr-2009 EUR250 mil 5.70% med-term nts due 06/29/2017 BBB+ 14-Jul-2009 EUR834.45 mil 4.247% bnds due 01/06/2021 BBB+ 06-Jul-2010 EUR750 mil 4.625% med-term nts ser 29 due 03/30/2027 BBB+ 27-Mar-2012 CNY500 mil 4.50% med-term nts due 06/28/2017 BBB+ 22-Jun-2012 FRENCH CP prog auth amt EUR4 bil A-2 25-Aug-2000 EUR21.44 bil med-term note Prog 11/23/2000: S-T debt A-2 24-Nov-2000

((Bangalore Ratings Team, Hotline: +91 80 4135 5898swati.ray@thomsonreuters.com,Group id:BangaloreRatings@thomsonreuters.com,Reuters Messaging:swati.ray.thomsonreuters.com@reuters.net))