France loses AAA rating
13/01/2012 - 19:19:23
France’s finance ministry said tonight that Standard & Poor’s had cut the country’s credit rating by one notch to AA.

France’s loss of its AAA-rating deals a heavy blow to the eurozone’s ability to fight off its debt crisis.

The country is the second-largest contributor to the currency union’s bailout fund.

S&P in December put 15 eurozone countries on creditwatch and other downgrades were expected later tonight.

The cut in France’s creditworthiness could also hurt President Nicolas Sarkozy’s re-election chances.

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