“This is mainly due to the revision of the government’s fiscal consolidation strategy“, writes the rating agency, citing as positive facts the scheduled end of energy aid and the recent pension reform.
Five weeks ago, another agency, Fitch, on the contrary downgraded France’s rating by one notch. The AA rating is among the highest rating categories, signifying a strong ability to repay debts.
“A positive signal”
Economy Minister Bruno Le Maire praised French budget management on Friday: “I take note of the decision of the agency Standard & Poor’s to leave unchanged the rating of the French debt”, he told the JDD. “It’s a positive signal. Our public finance strategy is clear. It’s ambitious. And it’s credible.”
