S&P Informs France Of Downgrade From AAA–WSJ
According to The Wall Street Journal, the rumor that France will lose its AAA rating from S&P is true The paper reports that Standard & Poor’s Ratings Services has notified the French government of its decision to downgrade the country’s…
According to The Wall Street Journal, the rumor that France will lose its AAA rating from S&P is true
Standard & Poor’s Ratings Services has notified the French government of its decision to downgrade the country’s credit rating, a senior French government official said Friday, a move that marks the long-awaited blow to France’s international standing and knocks the country out of the top financial league of the euro zone.
WSJ adds
The downgrade of France’s rating will, indirectly, raise the cost of borrowing for the European Financial Stability Facility, whose own rating depends largely on the credit quality of the countries that back it.
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