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France credit rating downgrade will have wider repercussions
French government bonds (OATs) have been under pressure for much of 2024 amid fears that a higher-than-expected fiscal deficit would significantly increase the issuance of debt. Those fears were confirmed with the 10 October budget and OATs are facing renewed scrutiny from investors with a potential rating downgrade on the horizon. The first bullet was narrowly dodged on Friday when Fitch left its AA- rating on France unchanged but downgraded its outlook on the sovereign to ‘negative’ from ‘stable’. Fitch said the negative outlook reflects its expectation that wider fiscal deficits will lead to a ‘steep ... (full story)
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- Posted: Oct 16, 2024 12:51pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,111
