The rating agency Fitch lowered this Friday from stable to negative the prospect of France, fearing a deterioration in public finances and the economy this year, but without touching for the moment its "AA" rating.
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"The lowering of the outlook reflects the substantial deterioration expected this year in public finances and economic activity due to the Covid-19 epidemic , " the agency said in a statement.
"An already high level of debt"
"The deterioration in the parameters of public finances will occur in a context of an already high debt level (...), limited progress in fiscal consolidation since the financial crisis (of 2008) and moderate economic growth" , she added.
After this decision, Fitch has two years to possibly lower the rating of France. At the beginning of April, another rating agency, S&P, had maintained France's rating at AA, without touching the prospect that it had kept stable.
