French 10-Year Bonds Open Lower After Moody’s Cuts Credit Rating

French 10-year bonds opened lower after Moody’s Investors Service stripped the nation of its top credit rating.

The yield on the securities rose two basis points, or 0.02 percentage point, to 2.09 percent as of 7:09 a.m. London time.

France was cut to Aa1 from Aaa, the rating company said yesterday. The Moody’s downgrade follows a similar cut by Standard & Poor’s in January.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.