Slow Growth: Moody’s downgrades France rating

WASHINGTON: Moody’s cut France’s sovereign debt rating one notch to Aa2 on Friday, saying the country will struggle with slow growth and a high debt burden for the next five years. “The current economic recovery in France has already proven to be significantly slower-and Moody’s believes that it will remain so- compared with the recoveries observed over the past few decades,” Moody’s said. “France faces material economic challenges, such as a high rate of structural unemployment, relatively weak corporate profit margins and a loss of global export market share that have their roots in long-standing rigidities in its labor and product markets,” Moody’s said.

Published in The Express Tribune, September 20^th, 2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.