Slow Growth: Moody’s downgrades France rating
Moody’s cut France’s sovereign debt rating one notch to Aa2 on Friday
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 20th, 2015.
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 20th, 2015.