Moody's to downgrade France further if reforms stall

PARIS Tue Nov 20, 2012 1:28pm IST

A beggar (L), holding a sign, sits next to a woman at an ATM in the Andalusian capital of Seville, April 19, 2012. REUTERS/Marcelo del Pozo/Files

A beggar (L), holding a sign, sits next to a woman at an ATM in the Andalusian capital of Seville, April 19, 2012.

Credit: Reuters/Marcelo del Pozo/Files

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PARIS (Reuters) - Credit ratings agency Moody's, which stripped France of its prized AAA rating on Monday, would downgrade its creditworthiness further if the Socialist government fails to implement announced reforms, its lead France analyst said.

"We would downgrade the rating further in the event of additional material deterioration in France's economic prospects or in a scenario in which there were difficulties in implementing the announced reforms," said Moody's lead analyst for France's sovereign rating, Dietmar Hornung. (Reporting By Daniel Flynn)

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