To estimate the trend of Moody's adjusted leverage (Debt/EBITDA) for EDF in 2022, we examine the primary drivers of financial performance and leverage metrics:

1.  **Operating Profitability (EBITDA proxy):** The "Operating Profit Before Depreciation And Amortisation" (a proxy for EBITDA) dropped significantly from 18,005 million EUR in 2021 to -4,986 million EUR in 2022. This drastic shift from a strong positive operating profit to a significant loss indicates a severe erosion of the cash-generating ability relative to debt levels.
2.  **Debt/Liabilities:** Other non-current financial liabilities increased from 56,543 million EUR to 71,058 million EUR, and other current financial liabilities increased from 45,014 million EUR to 71,844 million EUR. This substantial increase in total debt combined with the collapse of operating profit creates a significant spike in the leverage ratio.
3.  **Cash Flow:** Operating cash flow (Cash Flows From Used In Operating Activities) swung from a positive 12,648 million EUR in 2021 to a negative 7,425 million EUR in 2022.
4.  **Equity:** Total equity dropped from 61,989 million EUR to 46,612 million EUR, further exacerbating the debt-to-equity and net leverage metrics.

Given that EBITDA plummeted (turning negative) while debt levels rose, the company’s leverage trend is clearly deteriorating.

<answer>Deteriorating</answer>