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France’s Rating Affirmed by Moody’s; Retains Negative Outlook

France’s Aa1 credit rating was affirmed by Moody’s Investors Service, which maintained a negative outlook based on the continued reduction in the competitiveness of the nation’s economy.

That trend risks triggering a further deterioration in the government’s financial strength and the nation’s long-term growth prospects, Moody’s said in a statement last night. The debt-to-GDP ratio has risen to 93.6 percent in 2013 from 90.2 percent in 2012, and Moody’s expects a further increase to above 95 percent by the end of 2014.