A downgrade of France's AAA credit rating would not be justified and ratings agencies are making decisions based more on politics than economics, European Central Bank policymaker Christian Noyer said on Thursday. Speaking in an interview with local newspaper Le Telegramme de Brest to be published later on Thursday, Noyer also questioned whether the use of ratings agencies to guide investors was still valid. "In the arguments they (ratings agencies) present, there are more political arguments than economic ones," said Noyer, the head of the Bank of France and a member of the ECB's governing council. French Foreign ... (full story)