The outlook on France’s credit rating was reduced to negative from stable by Scope Ratings, raising questions about President Emmanuel Macron’s efforts to spur growth and reduce a crisis-swollen debt burden.
The Europe-based credit rating firm said it changed the outlook on its AA rating due to weakening public finances and implementation risks to the agenda for economic reforms.
The change comes after Fitch Ratings cut France to AA- from AA last month, also flagging high government debt and risks that political deadlock after the protests over pension reform could hamper future economic overhauls.
Read More : France receives another credit rating warning