Moody's cuts France’s credit rating from Aaa to Aa1
Quotes

Moody's cuts France’s credit rating from Aaa to Aa1

Last Updated: Tuesday, November 20, 2012, 17:02
 
 Comment 0
 
Moody's cuts France’s credit rating from Aaa to Aa1
Paris: Moody's Investors Service has cut France's government bond rating by one notch from Aaa to Aa1.

First, it said France's long-term economic growth outlook was negative, affected by multiple structural challenges, including its gradual, sustained loss of competitiveness and the long-standing rigidities of its labour, goods and service markets, reported Xinhua.

Second, France's fiscal outlook was uncertain as a result of its deteriorating economic prospects, both in the short term due to subdued domestic and external demand, and in the longer term due to the structural rigidities.

The action followed Moody's decision July 23 to change to negative the outlooks on the Aaa ratings of Germany, Luxembourg and the Netherlands.

IANS



First Published: Tuesday, November 20, 2012, 09:21


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved