S&P Lowers France’s Credit Rating Amid Fiscal Uncertainty
(MENAFN) On Friday, Standard & Poor’s (S&P) downgraded France’s credit rating from “AA-/A-1+” to “A+/A-1,” maintaining a “stable” outlook despite the recent submission of the 2026 budget draft to parliament.
The global credit rating agency highlighted persistent uncertainty about France’s public finances, warning that fiscal risks remain elevated. S&P pointed out that the projected overall public budget deficit for 2024 stands at 5.4% of GDP, and that efforts to consolidate the budget are anticipated to proceed more slowly than earlier expected.
The report also forecast that France’s general government gross debt will rise sharply, reaching 121% of GDP by 2028, up from 112% at the close of last year.
S&P downgraded France's long- and short-term credit ratings from “AA-/A-1+” to “A+/A-1,” highlighting increasing worries about the nation’s fiscal outlook.
Meanwhile, S&P did not issue an update on Türkiye’s rating this Friday. Previously, on November 1, 2024, S&P had upgraded Türkiye’s long-term sovereign credit rating from BB- to B+ with a stable outlook.
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