S&P Global Ratings: France Long-Term Rating Lowered To 'AA-' From 'AA

On Macron's watch!

"Overview

• Contrary to our previous expectations, we project France's general government debt will increase to about 112% of GDP by 2027 from about 109% in 2023.
• France's 2023 budget deficit was significantly higher than we previously forecast, reaching 5.5% of GDP.
• Although we expect the recovery of economic growth and recently implemented economic and budgetary reforms will allow France to reduce its budget deficit, we now forecast it will remain above 3% of GDP in 2027.
• We therefore lowered our unsolicited long-term sovereign credit ratings on France to 'AA-' from 'AA' and affirmed the 'A-1+' short-term ratings. The outlook is stable.

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France Long-Term Rating Lowered To 'AA-' From 'AA | S&P Global Ratings