Fitch downgraded France’s credit rating on Friday from “AA-” to “A+”, as President Emmanuel Macron struggles with political instability and deep disagreements on how to put the country’s strained public finances in order.
“The government’s defeat in a confidence vote illustrates the increased fragmentation and polarisation of domestic politics,” Fitch said. “This instability weakens the political system’s capacity to deliver substantial fiscal consolidation,” added the US ratings agency.
