Moody’s lowers rating by one notch from France – Le Figaro

The rating agency has downgraded from Aa1 to Aa2 because of the low growth prospects of the Hexagon.

Moody’s downgraded by one notch the rating of France Friday evening, passing it from Aa1 to Aa2. The rating agency believes that the growth prospects are low in France until the end of the decade and this will make the reduction of public debt difficult. However, Moody’s has a stable outlook to match its note, France villa including a diversified economy and a very favorable demographics. “Given information on tax revenues and public spending, our deficit target of 3.8% of GDP in 2015 is confirmed and the deficit is expected to narrow to 3.3% of GDP in 2016,” responded Michel Sapin the Minister of Finance.

Moody’s withdrew its highest rating (Aa1) to France in November 2012, eleven months after Standard & amp; Poor’s has removed its triple A to Paris. Despite this, the French government continued to borrow at very low rates.