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Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 21. Borrowings and other financial liabilities
Breakdown by currency
(in millions of euros)
Note
December 31, 2014
December 31, 2013
Euro – EUR
2,162
98%
11,396
93%
US dollar – USD
-
-
433
4%
Other (of which BRL and PLN)
37
2%
381
3%
Nominal value of borrowings before hedging
2,199
100%
12,210
100%
Currency swaps USD
748
1,468
Other currency swaps
(52)
(199)
Net total of hedging instruments
22.2
696
1,269
Euro – EUR
2,858
130%
12,665
104%
US dollar – USD
(
748
)
-34%
(1,035)
-9%
Other (of which BRL and PLN)
89
4%
580
5%
Nominal value of borrowings after hedging
2,199
100%
12,210
100%
21.4.
Credit ratings
As of February 11, 2015, the date of the Management Board Meeting that approved the Financial Statements for the year ended December 31, 2014,
Vivendi’s credit ratings were as follows:
Rating agency
Type of debt
Ratings
Outlook
Standard & Poor’s
Long-term corporate
debt
BBB
Positive
Short-term corporate debt
A-2
Senior unsecured debt
BBB
Moody’s
Long-term senior unsecured debt
Baa2
Stable
Fitch Ratings
Long-term senior unsecured debt
BBB
Stable
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Annual Report 2014