Fitch Credit Agency Downgrades France To AA-

Fitch agency cuts France’s debt rating to 'AA-', revises up outlook to stable © Miguel Medina, AFP  

France 24: Fitch agency cuts France’s debt rating to 'AA-', revises up outlook to stable 

Fitch on Friday cut France's sovereign credit rating by one notch to 'AA-', citing a potential political deadlock and social movements that are posing risks to President Emmanuel Macron's reform agenda. 

"Social and political pressures illustrated by the protests against the pension reform will complicate fiscal consolidation," the global credit ratings agency said. 

Fitch, which also revised up the country's outlook to stable from negative, said the French economy will expand by 0.8% this year, in line with the euro zone average but below the agency's 1.1% growth forecast in its last review in November. 

The economy trudged up slightly in the first quarter despite a series of strikes against the government's pension reform bill, but inflation remained stubbornly high.  

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Update #1: Fitch cuts France's rating to 'AA-', revises up outlook to stable (Reuters)  

Update #2: Fitch Downgrades France To AA-, Cites Civil Unrest As Major Risk (Zero Hedge)  

WNU Editor: The Fitch report is here .... Fitch Downgrades France to 'AA-'; Outlook Stable (Fitch Ratings).