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FRANCE-DEBT-RATING-CREDIT-FITCH
France retains AA debt rating: Fitch
NEW YORK, Jan 27, 2018 (BSS/AFP) – France retained its “AA” credit rating
despite its high and rising debt level, Fitch ratings agency said Friday.
Fitch noted that persistent budget deficits mean the debt-to-GDP ratio
“will continue to increase in the coming years and peak at 97 percent in
2019,” compared to the median level of 42 percent for AA-rated economies.
“The high debt burden limits France’s ability to respond to future
shocks,” the agency cautioned in a statement.
However, “France’s prudent debt management strategy helps mitigate the
risks from its high public debt.”
In addition, Fitch said French President Emmanuel Macron’s ambitious
structural reform program has coincided with solid growth.
The outlook for France’s debt rating is stable, which means Fitch does not
see any developments on the horizon that are likely to lead to a change.
BSS/AFP/HR/0935