Monday, December 19, 2011

France Could Be Stripped of Its Triple-A Credit Rating by Christmas

According analysts, Standard and Poor's expected downgrade of France's sovereign credit rating could come within in a couple of days. Many analysts believe that the downgrade could cause panic in the global financial markets and make the euro zone crisis even worse.

The downgrade of France's credit rating would make it difficult for France to contribute to the bailout of the euro zone.

Along with Standard and Poor's possible downgrade of France, Fitch is expected to downgrade Belgium's credit rating along with Spain, Italy, Slovenia, Cyprus and Ireland. Fitch kept France at triple-A; however, it downgraded its outlook for the country to "negative".

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