EFTA Document EFTA01378331

INTERNAL USE ONLY DO NOT DISTRIBUTE IN PART OR IN WHOLE Corporate Credit > Europe Investment Grade La Mondiale Updated: Oct 28, 2015 Trade Idea: Buy Investment Rationale: o Large and diversified French life and protection insurance group, recently upgraded by S&P to A- (sub: BBB) o Recent merger provides further solvency buffers and risk management's improvements 0 Increased automatic solidarity links between AG2R Prevoyance and La Mondiale to 30% of shareholders equity o High likelyh