moodys downgrades france rating citing slow growth
Last Updated : GMT 09:49:25
Arab Today, arab today
Arab Today, arab today

Moody's downgrades France rating citing slow growth

Arab Today, arab today

Arab Today, arab today Moody's downgrades France rating citing slow growth

Moody's
Washington - AFP

Moody's cut France's sovereign debt rating one notch to Aa2 on Friday, saying the country will struggle with slow growth and a high debt burden for the next five years.

"The current economic recovery in France has already proven to be significantly slower -- and Moody's believes that it will remain so -- compared with the recoveries observed over the past few decades," Moody's said.

"France faces material economic challenges, such as a high rate of structural unemployment, relatively weak corporate profit margins and a loss of global export market share that have their roots in long-standing rigidities in its labor and product markets," Moody's said.

The result will be slow growth over the medium term that will stand in the way of "any material reversal in France's elevated debt burden in the foreseeable future," the agency said.

The downgrade was by one notch from the previous Aa1 rating. France lost its top-flight Aaa rating in November 2012 as the eurozone sank into crisis, and the new rating is two steps below that.

Moody's said that France's credit-worthiness "remains extremely high" overall and gave the new rating a "stable" outlook.

Supporting that is "the country's efforts to stabilize its public sector finances and initiatives recently deployed or announced to arrest the erosion of the economy's competitiveness," it said.

In a statement after the ratings downgrade, French Finance Minister Michel Sapin stressed that France's credit-worthiness remained solid.

"The government remains strongly committed to pursuing and expanding its reform policy, aimed at enhancing the growth and employment potential of the French economy," he said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

moodys downgrades france rating citing slow growth moodys downgrades france rating citing slow growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

moodys downgrades france rating citing slow growth moodys downgrades france rating citing slow growth

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday