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1.Market Observations

21 Nov 2012 (TheAge) – France’s rating downgraded a second time

(21 Nov 2012, The Age, BusinessDay, p14, Kim Willsher)

‘MOODY’S credit rating agency has stripped France of its coveted AAA rating and declared that the country’s economic outlook remains ”negative”.’

‘In what will be a severe blow to Socialist President Francois Hollande, the agency said it was reducing the country’s rating from AAA to AA1, claiming France’s ability for economic growth was being hampered by ”structural challenges” including its lack of competitiveness, high unemployment, public debt and market rigidity.’


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