Why did Moody’s maintain the French rating despite the budgetary slippage?
INTERVIEW - For Raphaël Gallardo, chief economist of the asset management company Carmignac, the non-downgrade of the tricolor rating by Moody's on Friday evening is difficult to understand. It should have little…
To everyone's surprise, Moody's - one of the three largest global rating agencies with S&P and Fitch - did not downgrade France's sovereign rating on Friday evening. The American company maintained the French signature at Aa3, with a negative outlook, while most observers imagined France losing its double A. A decision difficult to understand, confesses Raphaël Gallardo, chief economist of the asset management company Carmignac, while the markets are already making France pay for the deterioration of its economic and political situation.
LE FIGARO. - Is the maintenance of the French rating by Moody’s a surprise? RAPHAEL GALLARDO.
- What is surprising is that Moody's maintains our double A even though France was already under a negative outlook from the agency. To prevent it from degrading us, Moody's should have highlighted positive points.
Machine-translated from French
Not cross-checked yet
Only Le Figaro reports this story so far. We show it as a single source until another newsroom confirms it.
- Le Figaro24 Oct, 15:41
| Publisher Le Figaro (established tier) | +76 |
| Detailed summary | +2 |
| Total | 78 |
Method: reports are grouped by the words of their headline and summary; each newsroom counts once; figures are read from the reports as published. Nothing here is written by an AI.