EDF appears to have a highly regulated, infrastructure-like business with sizable regulated operations and strong visibility of cash flows, albeit with substantial regulatory and political risk given its state ownership and French regime. The 2022 IFRS figures show a large-scale, capital-intensive utility with negative net income at group level driven by impairment and market hedging effects, but EDF remains a dominant, investment-grade-like issuer with substantial asset base (PP&E, concessions) and large noncurrent liabilities. However, EDF also carries elevated regulatory/back-end nuclear decommissioning provisions and concession liabilities, and its 2022 Profit/Loss and Comprehensive Income are heavily negative, signaling cash-flow pressure in volatile energy markets and through sovereign/regulatory channels. The Swap/credit market data indicates higher interest rate environment in 2022, potentially pressuring funding costs, but EDF’s scale and diversity across generation assets and regulated networks support cash-flow visibility. Given these dynamics, hybrid capital could provide rating headroom and funding flexibility, but the material impairment-driven losses and high leverage risk from regulatory commitments suggest hybrid would be closer to opportunistic financing rather than core, steady equity-like capital. Therefore: Marginally Suitable. 
<answer>Marginally Suitable</answer>