Standard and Poor’s (S&P) has cut France’s credit rating to AA from AA+.
The moves comes almost two years after the country lost its top-rated AAA status….
S&P said in its statement: “We believe the French government’s reforms to taxation, as well as to product, services and labour markets, will not substantially raise France’s medium-term growth prospects and that ongoing high unemployment is weakening support for further significant fiscal and structural policy measures.”
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France's credit rating cut by S&P to AA
Standard and Poor’s (S&P) has cut France’s credit rating to AA from AA+.
The moves comes almost two years after the country lost its top-rated AAA status….
S&P said in its statement: “We believe the French government’s reforms to taxation, as well as to product, services and labour markets, will not substantially raise France’s medium-term growth prospects and that ongoing high unemployment is weakening support for further significant fiscal and structural policy measures.”
Read it all.