S&P lowers France's credit rating, maintaining stable outlook
(MENAFN) On Friday, Standard & Poor’s (S&P) downgraded France’s credit rating to “A+/A-1” while maintaining a “stable” outlook.
The international rating agency highlighted that, even though the 2026 budget draft was submitted to parliament this week, significant uncertainty persists regarding France’s public finances. S&P noted that this year’s overall budget deficit is projected at 5.4% of GDP, but warned that efforts to consolidate the budget are likely to progress more slowly than initially expected.
The agency projected that general government gross debt will reach 121% of GDP by 2028, up from 112% at the end of last year. It emphasized that France’s long- and short-term credit ratings have been lowered from “AA-/A-1+” to “A+/A-1."
While S&P had also been expected to update Türkiye’s rating, no changes were made. Previously, on November 1, 2024, the agency raised Türkiye’s long-term sovereign credit rating to BB- from B+, maintaining a stable outlook.
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