
The Fitch ratings agency said on Friday that it was keeping France\'s top AAA credit rating, the only one of the three major ratings agencies to do so, but added that its outlook remained negative. \"The affirmation of France\'s \'AAA\' status is underpinned by its wealthy and diversified economy, stable political, civil and social institutions and its exceptional financing flexibility reflecting its status as a large benchmark eurozone sovereign issuer,\" it said in a statement. Nevertheless, Fitch\'s outlook remained negative, meaning that a future downgrade was possible, it said. Future ratings will depend on the pace and scale of economic reforms in the country, in particular reforms to the labour market. \"The prospective reform of the labour market will be a key indicator of the political and public support for substantive measures that would enhance competitiveness and the growth potential of the French economy necessary to underpin confidence in the long-run sustainability of public finances.\"One of France\'s weaknesses in terms of its credit profile is its level of public debt, which Fitch estimates will stand at a whopping 90 percent of gross domestic product (GDP) by the end of 2012, compared with the current median of 53 percent for other AAA-rated countries. Out of AAA peers, only the US and the United Kingdom are more indebted, while that of Germany, the next most indebted AAA country, is at 82 percent and due to decline from next year. The agency said it would watch for the government to meet \"its deficit and debt targets and implement structural fiscal measures that provide confidence that public debt will be on firm downward path from 2014.\"
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor