Moody's keeps France at Aa3 – outlook remains negative
Published
The US rating agency Moody's has left its credit rating for France unchanged. The rating therefore remains at Aa3. The outlook for the country remains negative.
A credit rating, also known as a creditworthiness grade, shows how confident investors can be that a state will repay its debts. The better the grade, the lower the interest a country generally has to pay on new loans. Aa3 is among the good ratings, but sits below the highest level. A negative outlook means the agency considers a downgrade possible in the coming months or years.
After Germany, France is the second-largest economy in the European Union and one of Austria's most important trading partners. Developments in French public finances are therefore also significant for the eurozone. A worse rating could indirectly affect financial markets in Europe, to which Austria also belongs.
Moody's decision shows that the agency continues to watch the situation in France closely despite the existing stability. The negative outlook will remain in place until the agency publishes a new assessment.
Sources: newbusiness.at
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