November 20, 2012 / 8:02 AM / in 5 years

Moody's to downgrade France further if reforms stall

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.

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

“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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