S&P maintains France's sovereign debt rating at A+

Rating agency S&P chose Friday evening to keep France's rating at A+ with a stable outlook. The decision follows a one-notch downgrade in October last year.

The American agency thus aligns with Fitch, which also kept the rating at A+ with a stable outlook a few weeks ago. Moody’s retains its Aa3 rating, unchanged since April.

The Economy Ministry stated that Roland Lescure took note of the decision. Bercy recalled that the government remained committed to reducing the public deficit and debt to ensure the financial solidity of the economy.

In 2025 the deficit was limited to 5.1% of GDP, against 5.4% expected. The European Commission now projects a level around 5.1% for 2026. The agencies are due to issue their next verdicts in the autumn.

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Colombian business leaders react angrily to S&P's BB- downgrade of the country's credit rating amid fiscal crisis.
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S&P downgrades Colombia's sovereign rating to BB- over fiscal imbalances; business leaders criticize rising debt

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S&P Global Ratings downgraded Colombia's sovereign credit rating to BB- (long-term foreign currency) and BB (local currency) with a stable outlook on April 8, 2026, citing persistent fiscal imbalances, higher spending, lower revenues, and suspension of the fiscal rule. The move, following Fitch's downgrade in December, has prompted sharp criticism from business leaders over deteriorating public finances under the Petro government.

Rating agency Fitch Ratings has decided to maintain France's sovereign debt rating at A+ with a stable outlook, despite ongoing budgetary challenges. This decision comes amid global instability from the war in Iran. Economy Minister Roland Lescure welcomed the announcement as recognition of the government's efforts.

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Rating agency Moody’s has confirmed France’s sovereign debt rating at Aa3 with negative outlook, reaffirming its October 2025 stance amid political and fiscal challenges. Unlike Standard & Poor’s and Fitch, which downgraded to A+ last autumn, the decision credits a parliamentary budgetary agreement between moderate left and center-right, plus a projected 2026 deficit of 5% of GDP. Moody’s emphasizes French institutions’ strength.

Economists on the scientific advisory board to the Stability Council forecast an excessive deficit of 4.25 percent for 2026. They urge the federal government to make more savings to avoid breaching EU debt rules.

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The government announced Thursday budget freeze measures to meet its 6 billion euro savings commitment, without providing all details.

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