OREANDA-NEWS. Fitch Ratings has affirmed the French Region of Languedoc-Roussillon-Midi-Pyrenees' (LRMP; AA/Stable/F1+) EUR300m commercial paper (CP; from EUR200m initially) programme's Short-term rating at 'F1+'.

KEY RATING DRIVERS

The BT programme's rating is aligned with the Region of LRMP's Short-Term Issuer Default Rating (IDR) as the notes issued under the programme will constitute senior, unconditional, unsecured and unsubordinated liabilities of the region.

Under the CP programme, the Region of LRMP plans to issue notes for an outstanding amount up to EUR100m. The CP programme is backed by sufficient committed short-term credit lines for a total of EUR200m and revolving lines of EUR103m. Fitch will monitor the back-up line over the medium term in accordance with the amount of each issue.

RATING SENSITIVITIES

Changes to the Region of LRMP's Short-Term IDR would be reflected in the CP programme's rating.