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dipsydoodle

(42,239 posts)

12. France to answer ratings downgrade with reforms

Reply to Tony_FLADEM (Original post)

Tue Nov 20, 2012, 08:24 AM

Nov 2012

Last edited Tue Nov 20, 2012, 09:05 AM - Edit history (1)

(Reuters) - Credit ratings agency Moody's, which stripped France of its AAA rating, would downgrade its creditworthiness further if the Socialist government fails to implement announced reforms, its lead France analyst said on Tuesday.

"We would downgrade the rating further in the event of an additional material deterioration in France's economic prospects or in a scenario in which there were difficulties in implementing the announced reforms," Dietmar Hornung, Moody's lead analyst for France's sovereign rating, told Reuters.

http://uk.reuters.com/article/2012/11/20/uk-france-moodys-idUKBRE8AI17I20121120

edit to reflect Reuters change of narrative.

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Highlight:

Moody's strips France of AAA-rating with one-notch cut [View all] Tony_FLADEM Nov 2012 OP

Right wing revenge for France electing a Socialist. nt onehandle Nov 2012 #1

Pretty sure it's about their debt to GDP. ancianita Nov 2012 #2

Now France needs to do something to Moody's Wolf Frankula Nov 2012 #3

Why would anyone even believe Moody's ratings anymore?! Dont call me Shirley Nov 2012 #4

Yawn. hay rick Nov 2012 #5

not an apples to apples comparison bossy22 Nov 2012 #6

Point taken. hay rick Nov 2012 #7

IMHO I believe that had very very little to do with it bossy22 Nov 2012 #9

This was not unexpected bossy22 Nov 2012 #8

The remarkable thing about this story is that Moody's is still in business. Squinch Nov 2012 #10

No so remarkable when all of the criminals were allowed to get away. JackRiddler Nov 2012 #16

Oh, God, I know. Doesn't it just make you crazy? Squinch Nov 2012 #20

Indeed; and now it's trying to overcompensate panAmerican Nov 2012 #11

France to answer ratings downgrade with reforms dipsydoodle Nov 2012 #12

The Financial Extortionists Have Spoken JackRiddler Nov 2012 #13

It's not just Moodys. Nye Bevan Nov 2012 #14

Yes, it's clear to me that capitalist ideology is a chorus. JackRiddler Nov 2012 #15

So you have performed your own detailed econometric analysis of the French economy? Nye Bevan Nov 2012 #17

Have you? I know what class war is. JackRiddler Nov 2012 #19

Probably our bailed out banks mostly kept theirs CreekDog Nov 2012 #18