- Fitch Ratings downgrades France's credit rating to AA- from AA with a stable outlook.
- Projected budget deficits for this year and next are well above the median for countries with AA ratings.
- It is only the second time France has been downgraded since Macron took office in 2017.
- Fitch's rating cut tarnishes Macron's credibility as an economic reformer.
- France's public finance watchdog has cautioned that the government's plans rely on optimistic growth estimates.
France Rating Cut to AA- From AA by Fitch on Deficits, Debt
France’s credit rating was cut by Fitch Ratings in another blow to politically embattled President Emmanuel Macron as he tries to bolster the country’s public finances with unpopular overhauls.
William Horobin
