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- Alexander Kockerbeck, Moody's Senior Credit Officer
Moody's Investor Service said on Monday that France's top notch AAA credit rating is under pressure amid higher borrowing costs and uncertain economic outlook.
"The deterioration in debt metrics and the potential for further liabilities to emerge are exerting pressure on France's creditworthiness and the stable outlook--though not at this stage the level - of the government's Aaa debt rating," said Moody's Senior Credit Officer Alexander Kockerbeck.
"With the government's forecast for real [gross domestic product] growth of a mere 1% in 2012, a higher interest burden will make achieving targeted fiscal deficit reduction more difficult," Mr. Kockerbeck said.