Fitch affirms France at 'AA'; outlook stable - Reuters
|Fitch Ratings affirmed France's credit note at 'AA' and said that the outlook was stable.
Key highlights (via Reuters)
- Fiscal metrics remain France's key rating weakness
- Victory of Macron over Marine Le Pen in may presidential election removed risk of a near-term political shock to France and wider Europe
- France's ratings balance wealthy economy, macro-financial stability, with a high general government debt/GDP ratio and fiscal deficits
- Fitch forecasts France to be one of few eurozone sovereigns whose debt-GDP burdens will still be rising from this year
- Fitch expects unwinding of favourable conditions, particularly low oil prices, to weigh modestly on France's current account balance in 2017-2019
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