On Saturday (14 December), Moody’s downgraded France’s domestic- and foreign-currency long-term issuer and domestic-currency senior unsecured scores from ‘Aa2’ to ‘Aa3’.
Nevertheless, the company switched its outlook from ‘unfavourable’ to ‘secure’, indicating that the score isn’t anticipated to additional regress sooner or later.
The downgrade determination got here on the again of Moody’s expectation that France’s “public funds shall be considerably weakened over the approaching yr” on account of “political fragmentation” which, in flip, is anticipated to hamper “significant fiscal consolidation”.
French bo…
