Fitch Downgrades France From Top AAA Credit Rating

Ratings agency Fitch downgraded France from the top AAA credit rating on Friday, citing a heavier government debt load and poor prospects for growth. The outlook on the rating is stable.

In slashing France’s rating to ‘AA +’, Fitch became the last of the big three credit raters to knock France off the top perch. Last year Standard & Poor’s and Moody’s Corporation (NYSE:MCO) also downgraded France from the AAA club.

France –  Rising Debt-to-GDP Ratio

When Fitch downgraded Italy in early March from ‘A-’ to ‘BBB+’, the ratings agency was worried about the country’s level of debt-to-GDP rising from a previously estimated 125%...