Vladimír Urbánek (Kurzy.cz)
Markets  |  November 20, 2012 08:57:19, updated

Moody's downgraded France top Aaa credit rating by one notch with a negative outlook


Moody's Investors Service has decided to reduce the credit rating of France, so far the highest level of Aaa by one notch to Aa1 with a negative outlook. Moody's considerable delay follows a similar step competitive Standard & Poor's, the highest rating that the second largest European economy has picked up in January.
According to Moody's fiscal outlook is uncertain due to France deteriorating economic outlook, which in the short term due mainly to the decline in domestic and foreign demand and the long term due to the overall structural rigidity.

According to some comments is the timing of the cut downright "embarrassing" considering that it comes just days after France announced the adoption of important structural reforms, which are some of the strongest in the last quite a long time.On the other hand, comments indicate that the cut in this case indicates that the adopted reforms were not strong enough to be able to calm and reassure investors that France on the right path to overcoming the crisis.

Since the downgrade by S & P in January this year French bonds rose on Friday's conclusion by 9.4% compared to growth of 3.5% in the case of German bonds and bonds of U.S. growth by 2.6%.

Interest on bonds from the French presidential changes in May this year at the 10-year benchmark fell to the level of 2% for shorter maturities for a short while revenues reached even into negative territories.

In response to the January cut by S & P began increasingly to discuss the merits, necessity and benefits of credit ratings.

Euro step in response to Moody's weakening against all currencies 16členného of the basic basket of currencies.
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Moody´s snížila Francii top kreditní rating Aaa o jeden stupeň s negativním výhledem

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