Moody's to downgrade France further if reforms stall

Last Updated: Tue, Nov 20, 2012 08:09 hrs

Credit ratings agency Moody's, which stripped France of its prized AAA rating on Monday, would downgrade its creditworthiness further if the Socialist government fails to implement announced reforms, its lead France analyst said.

"We would downgrade the rating further in the event of additional material deterioration in France's economic prospects or in a scenario in which there were difficulties in implementing the announced reforms," said Moody's lead analyst for France's sovereign rating, Dietmar Hornung.

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