Moody's, one of the three largest rating agencies, downgrades France's rating

La notation détermine les taux auxquels la France peut emprunter auprès des marchés. MAXPPP – Bruno Levesque

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Moody's downgrades France's sovereign rating. This rating now stands at Aa3 “with a stable outlook”. The resigning Minister of Economy and Finance, Antoine Armand, said he “took note” of this decision.

Moody’s has downgraded its Aa2 rating, which had a “negative outlook” indicating a likely downgrade in the more or less short term, to Aa3, with a stable outlook.

The agency, which had previously ranked France slightly above its competitors, has joined them: S & P rates France AA- with a stable outlook, and Fitch AA- with a negative outlook. However, the whole still reflects a good, even high, credit quality. The agency has repeatedly expressed concern about the political uncertainty that has gripped France since the dissolution of the National Assembly announced on June 9 by President Emmanuel Macron.

For Moody’s, 12 countries still have their triple A, the best rating (Germany, United States, Australia, Canada, Switzerland, Denmark, Luxembourg, Netherlands, Norway, New Zealand, Sweden, Singapore), but France is not one of them.