Skip to comments.Moody's strips France of triple-A rating; a notch lower (Aa1)
Posted on 11/19/2012 5:27:01 PM PST by TigerLikesRooster
Moody's strips France of triple-A rating; a notch lower
Mon Nov 19, 2012 6:05pm EST
(Reuters) - Moody's Investors Service downgraded France's sovereign rating by one notch to Aa1 from Aaa, the agency said on Monday, citing the country's uncertain fiscal outlook as a result of "deteriorating economic prospects."
Moody's said it is maintaining a negative outlook on the country due to structural challenges and a "sustained loss of competitiveness" in the country.
Standard & Poor's has a AA-plus rating and negative outlook on France, which it downgraded by one notch in January from AAA. Fitch Ratings has France at AAA, also with a negative outlook.
The loss of Aaa rating from two agencies poses a problem for France, as investment funds often require their best assets to have a minimum of two top notch ratings in order to remain in their portfolios.
(Excerpt) Read more at reuters.com ...
What a sick joke.
That there should be an A or an a in their credit rating.
The entire sovereign rating is flim flam.
The only A that counts is the one of “A” rational sane investor that would invest in sovereign debt!
What a sick joke.
They have an incredible amount of tourism. People go to France in droves to see that metal tower......yep even I have been TWICE! lol.
i assume this is a sick joke.
the only one buying us ten year notes is the fed.
The only one buying euronotes is the banks subsidized by the gov.
Complete house of cards.
The wind is starting to pick up...
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