France Credit Rating Cut
World Economy

France Credit Rating Cut

France’s credit rating was downgraded by Moody’s over the weekend, resulting from continuing weakness in the country’s medium-term growth outlook, ShareCast News reported. The ratings agency reduced the single currency nation by one level from “Aa1” to “Aa2”, but upgraded its outlook on the rating from “negative” to “stable”. Moody’s said: “The current economic recovery in France has already proven to be significantly slower–and Moody’s believes that it will remain so–compared with the recoveries observed over the past few decades.” It also blamed “the challenges that low growth, coupled with institutional and political constraints, poses for the material reduction in the government’s high debt burden over the remainder of this decade”. However, the agency stressed that France’s creditworthiness “remains extremely high”, thanks to its “significant” strengths, including a large, wealthy, and well-diversified economy with a high per capita income and its strong investor base and low financing costs.


Short URL : https://goo.gl/b3s7wI
  1. https://goo.gl/TMFa9S
  • https://goo.gl/ubRH2M
  • https://goo.gl/xZV7It
  • https://goo.gl/Ur6znr
  • https://goo.gl/kXjBZo

You can also read ...

Outlook for Global Economy, Equity Markets Brighter
Ebrahim Rahbari remains positive on the global economy and...
Brazil August Growth Lowest in Five months
Economic activity in Brazil contracted in August at the...
OECD: Youth Likely to Face Higher Inequality in Old Age
Younger generations have been experiencing more unstable labor...
Singapore Exports See Surprise Drop
Exports from Singapore last month stumbled after four months...
UN Expert Says: IMF, WB Looking More Like Failed Institutions
The lending policies of the International Monetary Fund are...
Low ECB Rates an Opportunity to Reform
Easy monetary policy gives eurozone governments a window of...
S. Korea Money Supply Up 9.1%
The money supply in South Korea jumped 9.1% in August from a...
Czech Economy Needs Higher Rates
The Czech koruna’s slow appreciation is paving the way for...