SES S.A. -- Moody's assigns Ba1 rating to SES's new hybrid bond

London, 11 November 2016 -- Moody's Investors Service has today assigned a Ba1 long-term rating to the new perpetual deeply subordinated fixed rate resettable securities ("hybrid bonds") issued by SES S.A. ("SES") with a guarantee from SES Global Americas Holdings GP ("SES Global", Baa2 stable). The hybrid bond issuance is intended to be a benchmark size transaction. The Ba1 rating on this hybrid bond is the same as that assigned to a similar hybrid bond issued by SES S.A. in June 2016. All other ratings and the stable outlook on SES, SES Global and their guaranteed subsidiaries remain unchanged.

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