Moody’s has reduced the rating of France from Aaa to Aa1 with a negative forecast due to unclear budget and economic prospects, Interfax reports.
France is losing its competitive potential and demonstrates inflexibility of markets. Moody’s doubts the ability of President Francois Hollande to restore the competitive potential of the country.
Standard % Poor’s reduced the rating of France in January. Fitch Ratings is yet to reconsider the rating of France.
