France Gets Budget Warning as S&P Turns Negative on Rating
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S&P Global Ratings put a negative outlook on its assessment of France’s creditworthiness, underscoring enduring uncertainty over the country’s finances after a prolonged period of political turmoil.
The change in outlook reflects “rising government debt amid weak political consensus for tackling France’s large underlying budget deficits, against a backdrop of more uncertain economic growth prospects,” the ratings firm said in a statement late Friday.