France Credit Outlook Lifted to Positive From Stable by Moody'sBy
Government reforms, fiscal program drive the revision
Nation’s Aa2 long-term issuer ratings affirmed by Moody’s
France’s credit outlook was changed to positive from stable by Moody’s Investors Service Inc., which cited the government’s economic reform plans and its focus on fiscal consolidation.
Moody’s also affirmed the nation’s Aa2 long-term issuer rating, its third-highest score, the firm said in a statement Friday.
“The government has presented a broad and ambitious agenda of structural reforms which in Moody’s view should go a long way towards correcting the key underlying causes of France’s competitiveness challenges,” Moody’s said.
A shift in policy toward spending cuts will improve France’s fiscal strength in the medium term, also boosting the outlook, according to Moody’s.