Bloomberg News

France's Credit Rating Change Not Imminent, Moody's Says

April 16, 2012

France’s sovereign credit rating may not be subject to an imminent change, Moody’s Investors Service said.

Moody’s placed France on “negative outlook” on Feb. 13, adding that it retains its Aaa credit rating. Socialist presidential candidate Francois Hollande said yesterday that he expects Moody’s to act on that outlook on May 12, six days after the final round of this year’s presidential election.

“The negative outlook on this rating doesn’t signal any imminent change but constitutes an indication of the probable evolution in the next 12 to 18 months,” Moody’s said today in an e-mailed statement in response to Hollande.

Standard & Poor’s stripped France of its AAA credit rating on Jan. 13.

“Hollande wants to win votes, but there are things too serious to talk about like that,” President Nicolas Sarkozy said in an electoral rally in south-west France today.

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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