111In any event, the statement that those findings merely reflect the Commission’s assertions lack a factual basis. Nor has the French Republic demonstrated that the reason behind the ratings agencies’ taking into account of a State guarantee was Commission Decision 2005/145/EC of 16 December 2003 on the State aid granted by France to EDF and the electricity and gas industries (OJ 2005 L 49, p. 9). The mere fact that the documents originating from the ratings agencies referred to by the Commission are subsequent to that decision is not sufficient to prove that the reason behind the ratings agencies’ taking into account of a State guarantee was necessarily the adoption of that decision. The Commission cannot be criticised for referring to documents contemporaneous to the contested decision rather than to reports dating from well before the date of adoption of that decision.