Debt: new threat to the sovereign rating of France
France, she will again be sanctioned by the rating agencies? A priori answer tonight. A little over a year after removing its triple A to the Hexagon, Moody's could decide to downgrade its rating for the second time. Like its American rival, Standard & Poor's . One possibility that does not worry the Minister of Economy and Finance, Pierre Moscovici . "Whatever the decision of Moody's tomorrow, France remains credible to investors," he said Thursday during his vows to the press.
The French sovereign rating is considered vulnerable by the rating agencies, but it is not heavy impact on the country's ability to borrow on the financial markets. The rate of 10-year bonds of France is still evolving at very low levels, this Friday, it stood at 2.41% against 1.67% for Germany. What like to congratulate the current government, like its predecessor.
Fitch maintains the "AAA" rating of Germany
However, observers are sure to note that this potential downgrade would occur a week after the president announced his measures to boost business competitiveness and thus growth of France. And especially a day after the first meeting of the Strategic Advisory Board of public expenditure , chaired by François Hollande and tasked with finding "at least 50 billion savings" by the end of his five years. Because the thorny issue of government spending cuts interest at the highest point rating agencies.
graphics AAA rating moodys
The U.S. rating agency must also decide this Friday, on the note of Britain for which the IMF is more optimistic than for France . For its part, the German debt, which is to confirm that Friday's triple A by Fitch , always has the best rating from not only Standard & Poor's as well as Moody's had lowered in July, the rating outlook of the German debt to "negative", without penalty, for the moment, grave. Indices of industrial activity released Thursday show how the economic gap is more obvious between Germany and France. "While Germany leads the expansion of the euro zone, France could continue to slow the recovery of the region over the coming months," said Markit, which conducts surveys.