The Fitch International rating agency announced a decrease in the long -term rating of the default of the French issuer in foreign currency with a stable forecast.
“FITCH has lowered the long -term rating of the default of the issuer of France in foreign currency from the level of” AA “to” AA- “The forecast is stable,” the release on the organization’s website says.
One of the main causes of negative changes in this indicator, the agency called the reaction caused by the reforms of the Government of the President of France Emmanuel Macron.
“Political impasse and (sometimes violent) social movements represent a risk for the macron reform program and can create a ground for a more expansive fiscal policy or canceling previous reforms,” Fitch notes.