Saturday, 9 November 2013

Downgrade of credit rating

President François Hollande's beleaguered administration came under pressure on Friday to push through far-reaching labour market reforms after a surprise downgrade in France's credit rating.
Standard & Poor's cut its rating by one notch to AA from AA+, in a move that puts France on a par with Belgium and two notches above Italy in the agency's estimate of creditworthiness.