Rating

2004 rating:

Rating agencies updated in 2004 the so-called ‘declarative' or ‘unsolicited’ rating of Dexia.

				Vigeo (1)		Innovest (2)		CoreRatings
		Human resources		+		AAA		Dexia received a ‘B’ rating in 2003. Since 2004, the CoreRatings agency has not allowed the communication of so-called ‘declarative ratings’
		Environment		+
		Clients and suppliers		+
		Corporate governance		=
		Community and civil society		+
		Human rights		+
				Min. --/max. ++		Min. CCC/max. AAA		Min. D/max. A+

(1) None of the 40 banks included in the panel obtained the ++ rating for the ‘human resources’ and ‘corporate governance’ criteria.
(2) Dexia is now in third position out of a panel of 59 European banks.

According to the rating from the environmental assessment model EcoValue21 from the extra-financing research and rating agency Innovest Strategic Value Advisors, Dexia obtained an AAA rating on December 31 (on a possible rating from AAA to CCC).

In 2003, Dexia obtained a B rating (on a scale from A to D) from the Core Ratings agency.

Stock indexes
In 2004, Dexia was selected in the four leading European indexes managed on the basis of Socially Responsible Investment:

		ASPI  Eurozone		FTSE4Good  “Europe” and “Global”		Ethibel Sustainability Index “Europe” and “Global”		Dow Jones Sustainability Index “World”