After Flitch’s warning shot, the American agency Standard and Poor’s delivered its verdict on France’s rating on Friday. And it is a relief for France, which sees its rating maintained at “AA”, citing a planned improvement in the budgetary situation as advocated by the government of Emmanuel Macron.
The rating agency S&P Global did not lower France’s credit rating on Friday, keeping it unchanged at the “AA” level, citing an expected improvement in the budgetary situation as pleaded by the government of Emmanuel Macron.
“This is mainly due to the revision of the government’s budgetary consolidation strategy”, writes the rating agency, citing as positive facts the scheduled end of energy aid and the recent pension reform. Five weeks ago, another agency, Fitch, on the contrary downgraded France’s rating by one notch. The AA rating is among the highest rating categories, signifying a strong ability to repay debts. After this announcement expected by Bercy, Bruno Le Maire welcomes a “positive signal” in an interview with the JDD.
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Source: Europe1
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