France Loses AAA Rating on Weak Growth
Moody's downgrades the government's bond rating
By Newser Editors and Wire Services
Posted Nov 19, 2012 5:58 PM CST
French President Francois Hollande leaves after laying a wreath during the ceremony marking Armistice Day in Paris, Sunday Nov. 11, 2012.   (AP Photo/Gonzalo Fuentes, Pool)

(Newser) – Moody's Investors Service has downgraded France's government bond rating, citing the country's weak economic growth outlook and its exposure to Europe's economic crisis. The rating agency lowered France's rating one notch today from triple-A—its top rating—to Aa1. The outlook for the rating remains negative, meaning it could face future downgrades.

Moody's says France's long-term growth outlook is slowing and that it is becoming increasingly difficult to predict how resilient it will be to future euro-area shocks. But the agency noted that the country's rating and the stability of its banks still remain extremely high compared with many other European countries.

Copyright 2016 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
France Loses AAA Rating on Weak Growth is...
Show results without voting
You Might Like
Showing 3 of 16 comments
Nov 20, 2012 4:03 PM CST
France, the "flagship" of social/capitalism, is our "canary in the coalmine" for Obamaism.
Nov 20, 2012 8:40 AM CST
I'm sure there are many valid reasons for this to happen, but they deserve it for being dicks toward Armstrong.
Nov 20, 2012 2:31 AM CST
No wonder, with Frances new socialist president Hollande imposing a 75% tax on the rich, I'm surprised that there's any busisness owners left in France.