France Downgrade

US aviation authorities have downgraded India's safety ranking in a "disappointing" and "surprising" move that will hit air links between the countries, India's aviation minister said on Friday.

Standard & Poor's cut France's sovereign credit rating on Friday by one notch to AA from AA, giving a thumbs-down to President Francois Hollande's efforts to put the euro zone's second largest economy back on track.

The report said more reform would be necessary to prevent a buildup of pressures that could increase the risks of a hard landing for the Chinese economy. But it credited China for maintaining better fiscal metrics than Belgium or France, and noted that China's massive international investment position means its external assets exceed its domestic l...

Moody's, the second credit-rating agency to strip France of its top triple-A rank, told Reuters it will downgrade the country's debt further if the government fails to implement reforms such as a labour market overhaul.

France said it would respond to Moody's credit downgrade by pushing ahead with economic reforms but complained the ratings agency had overlooked efforts already taken to revamp the euro zone's second largest economy.

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.

Moody's stripped France of its prized triple-A badge on Monday, cutting the sovereign credit rating on Europe's No. 2 economy by one notch to Aa1 from Aaa, citing an uncertain fiscal outlook and deteriorating economy.

The agency said while there were "structural features in place that enhance the EU's creditworthiness," they were "not sufficient to delink the EU's ratings from the ratings of its strongest key member states."

The downgrades reflect Moody's view on the ability of the 28 banks to repay their debts.

Spain's IBEX 35 index was down 2% on S&P downgrade. Markets in France and Britain also declined sharply.

The agency said it took the actions due to the uncertainty over EU financial reforms, the region's weak economic outlook and the resulting pressure on fragile markets. Moody's moves were less severe than those taken last month by rival ratings agency Standard & Poor's, which downgraded nine European countries, including stripping France and Austria...

Fitch Ratings downgraded the debt of Italy, Spain and three other countries that use the euro on Friday.

The downgrade follows ratings cuts for AAA-rated France and Austria, whose financial guarantees were key to the creditworthiness of the European Financial Stability Facility.

Ratings agency Moody's says it is maintaining France's top-tier AAA credit rating for now

Europe needs to create independent credit rating agencies and stop relying solely on leading US-based agencies, says Germany

US aviation authorities have downgraded India's safety ranking in a "disappointing" and "surprising" move that will hit air links between the countries, India's aviation minister said on Friday.

Standard & Poor's cut France's sovereign credit rating on Friday by one notch to AA from AA, giving a thumbs-down to President Francois Hollande's efforts to put the euro zone's second largest economy back on track.

The report said more reform would be necessary to prevent a buildup of pressures that could increase the risks of a hard landing for the Chinese economy. But it credited China for maintaining better fiscal metrics than Belgium or France, and noted that China's massive international investment position means its external assets exceed its domestic l...

Moody's, the second credit-rating agency to strip France of its top triple-A rank, told Reuters it will downgrade the country's debt further if the government fails to implement reforms such as a labour market overhaul.

France said it would respond to Moody's credit downgrade by pushing ahead with economic reforms but complained the ratings agency had overlooked efforts already taken to revamp the euro zone's second largest economy.

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.

Moody's stripped France of its prized triple-A badge on Monday, cutting the sovereign credit rating on Europe's No. 2 economy by one notch to Aa1 from Aaa, citing an uncertain fiscal outlook and deteriorating economy.

The agency said while there were "structural features in place that enhance the EU's creditworthiness," they were "not sufficient to delink the EU's ratings from the ratings of its strongest key member states."

The downgrades reflect Moody's view on the ability of the 28 banks to repay their debts.

Spain's IBEX 35 index was down 2% on S&P downgrade. Markets in France and Britain also declined sharply.

The agency said it took the actions due to the uncertainty over EU financial reforms, the region's weak economic outlook and the resulting pressure on fragile markets. Moody's moves were less severe than those taken last month by rival ratings agency Standard & Poor's, which downgraded nine European countries, including stripping France and Austria...

Fitch Ratings downgraded the debt of Italy, Spain and three other countries that use the euro on Friday.

The downgrade follows ratings cuts for AAA-rated France and Austria, whose financial guarantees were key to the creditworthiness of the European Financial Stability Facility.

Ratings agency Moody's says it is maintaining France's top-tier AAA credit rating for now

Europe needs to create independent credit rating agencies and stop relying solely on leading US-based agencies, says Germany