S&P cuts France credit rating to AA – from AA. They leave the Outlook stable. The downgrade is on deterioration of budgetary position.
- Says that the downgrade reflects projection that France’s general government debt as a share of GDP will increase
- he leaves French economy and public finances overall will continue to benefit from structural reforms implemented over the past decade
- Says that they expect the French economy will pick up from the second half of 2024
This article was written by Greg Michalowski at www.forexlive.com.
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