facebook
twitter
rss
account
search
search
 

Fitch warns France on AAA credit rating

Dec. 15, 2012 at 11:20 AM   |   Comments

BRUSSELS, Dec. 15 (UPI) -- Credit firm Fitch Ratings said it would not downgrade France's AAA rating, but said next year might be a different story.

Two of the big three credit rating firms, Moody's and Standard and Poor's, have already lowered the country's rating, which could affect its borrowing costs, Radio France Internationale reported Saturday.

French President Francois Hollande said policies would not change. "We hear what's being said but we do not decide our policies according to one agency or another, we decide it according to the interests of France," he said following a two-day summit in Brussels.

Fitch, however, warned that, "the negative outlook is expected to be resolved during 2013 and indicates a slightly greater than 50 percent chance of a downgrade," The Wall Street Journal reported.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
2
Canada airlifting ammunition to Iraq Canada airlifting ammunition to Iraq
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Boeing exploring collaboration with Danish firm to develop UAV Boeing exploring collaboration with Danish firm to develop UAV
5
Creator of 'Honey Badger Don't Care' brand sues for trademark infringement Creator of 'Honey Badger Don't Care' brand sues for trademark infringement
Trending News
Video
x
Feedback