Egan-Jones Cuts France’s Credit Rating to A on Bailout Risk
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France’s credit rating was cut to A from AA- by Egan-Jones Ratings Co., which cited the risk that the country’s government will have to bail out its banks.
“It’s increasingly obvious that France is going to have to support its banks,” Sean Egan, the Haverford, Pennsylvania-based firm’s president, said today in a telephone interview.