France Dodges a Second Downgrade as Macron Plans to Slash Debt [BNN Bloomberg (Canada)]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: BNN Bloomberg
S&P Global Ratings restated its AA credit rating for the country, saying its wealthy economy and strong institutions underpin its creditworthiness. The outlook on the rating is sill negative. “The negative outlook reflects our view of downside risks to our forecast for France's public finances amid its already elevated general government debt,” analysts from the ratings firm said. “We could lower our sovereign ratings on France within the next 18 months if general government debt as a share of GDP does not steadily decline over 2023-2025 or if general government interest expenditure increases above 5% of revenue.” The decision is a source of relief for Macron after Fitch Ratings cut France at the end of April and Scope Ratings put a negative outlook on its assessment last week. French people are also concerned about the trend, with 70% worried about Fitch's decision, according to a poll of 1,001 adults by Elabe for Les Echos newspaper this week. The same survey shows 76% consider
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