Free Trial

/RATINGS: Citi Believe Positives Will Prevent Downgrade At S&P

FRANCE

Ahead of S&P’s scheduled update on France (slated for after hours on Friday, current rating: AA; outlook negative) Citi note that “France was put on negative outlook by S&P one year ago and any downgrade is contingent on debt/GDP not declining over 2023-25 or interest expenditure/revenue ratio increasing above 5%.”

  • “For the former, the agency is observing GDP growth and budgetary consolidation, while increased yields would weigh on the latter. Overall, we believe that the agency will see the likely decline in France’s debt/GDP in 2023 and the government’s recently started review of its expenses in a good light, working against any risks re: a negative change in rating.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.