2023-10-21 00:00:12
In the midst of parliamentary debates on the 2024 budget, the rating agency’s decision was greeted with relief by the government.
After Standard & Poor’s which in June maintained France’s rating at “AA“, it was Moody’s turn to deliver its verdict on Friday evening. The rating agency ultimately decided to maintain its rating on the solidity of French debt at Aa2, the equivalent of 18 out of 20, without changing its perspective. In the midst of parliamentary debates on the 2024 budget, the executive quickly shared its relief, while Paris must raise the historic amount of 285 billion euros on the markets next year.
In a publication on X, the Minister of Economy and Finance argued that “Moody’s decision to maintain France’s rating demonstrates the credibility of our sovereign signature.» «It reinforces our desire to continue reducing France’s debt and my determination to restore our public finances.», added the boss of Bercy. It must be said that Bruno Le Maire had struggled in recent days. In an interview with Financial Timesthe minister emphasized his desire to quickly regain “sound public finances”. “The French social protection system as it is today is no longer sustainable”he said.
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