2023-12-01 21:51:29
We feared a downgrade in the rating. Ultimately, S&P Global Ratings left the rating at AA with a negative outlook.
The influential rating agency S&P Global Ratings left its financial rating of France unchanged, AA with a negative outlook in a context of high interest rates, according to a press release published Friday evening.
The rating agency indicated that it leaves the rating under negative outlook due to a “ uncertainty ” as to ” France’s public finances in a context of high, albeit slowly declining, budget deficit and high public debt ».
“We remain determined”
The French Minister of the Economy Bruno Le Maire welcomed Friday evening on X (formerly Twitter) a decision “ consistent with the government’s choices in terms of public finances ». « More than ever, we remain determined to reduce public spending and accelerate France’s debt reduction “, he declared, judging that it was “regarding our independence and respect for our national and European commitments “. Bercy feared a deterioration synonymous with sanction once morest the government’s economic policy.
S&P closes the autumn reviews of the major rating agencies for France. The AA rating it currently gives it is equivalent to Moody’s Aa2. Fitch is one notch below with AA –, following lowering France’s rating in April.
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