Fitch Affirms France as AAA, Warns on Six Others |
Wall Street Journal - Dec 16, 2011 |
Fitch Ratings affirmed France's triple-A credit rating, but revised its outlook on the euro-zone nation to "negative" from "stable."
The move came as Fitch also placed its ratings on six other euro-zone nations, including Spain and Italy, on watch for downgrade after it concluded a "comprehensive solution" the region's debt crisis is "technically and politically beyond reach."
Fitch said its affirmation of France's triple-A rating is "underpinned by its wealthy and diversified economy, effective political, civil and social institutions and its financing flexibility reflecting its status as a large benchmark euro area sovereign issuer."
In cutting the outlook, however, the firm noted that France's debt is expected to rise to a peak of 92% of gross domestic product in 2014.
Read Full Article from Wall Street Journal
- Posted: 2011-12-16 12:31:17
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