Moody’s strips France of AAA credit rating

Moody’s Investors Service stripped Europe’s No. 2 economy France of it of its AAA credit rating. Moody’s moved France from AAA to AA1 rating.

The reasons given by Moody’s for this actions:

• France’s persistent structural economic challenges
• Sustained loss of competitiveness in France due to rigidities in labour and services markets, and low levels of innovation

Month: Current Affairs - November, 2012