Due to an ongoing health crisis in the family, blogging will be 'on and off' as time and circumstances permit for the foreseeable future. I also beg your indulgence if I am slow in responding to emails. New posts will appear below this notice.

Monday, November 19, 2012

Moody's downgrades French credit rating

The credit ratings agency Moody's has downgraded France from its top rating.

The country's debt has been reduced from AAA to AA1 and has kept its negative outlook, meaning it could be downgraded again.

In a statement, Moody's blamed the risk of a Greek exit from the euro, stalled economic growth and the chances that France will have to contribute to bailing out other countries.

Rival agency Standard & Poor's downgraded France in January.
Read the rest here.

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