France Credit Rating Cut to AA by S&P on Growth Outlook
This article is for subscribers only.
France’s credit rating was cut by Standard & Poor’s, which said President Francois Hollande’s policies will fail to spur growth and fix public finances.
The nation’s long-term foreign- and local-currency grade was lowered one step to AA from AA+, S&P said in a statement today. France lost the top rating at S&P in January 2012. The outlook on the new grade, the third highest, is stable, according to the rating company.