France AAA Rating Under Review

Credit rating agency Fitch will review its triple-A rating on France next year, its chairman said on Wednesday, two days after rival Moody’s stripped the country of its top-notch rating.

“France will be re-examined, as Fitch has said, in the course of 2013,” Marc Ladreit de Lacharriere told France Inter radio.

French-owned Fitch is the only ratings agency to retain a triple-A rating on the euro zone’s No. 2 economy. Moody’s cut followed a downgrade by Standard & Poor’s in January.

Moody’s downgraded France’s rating to Aa1 with a negative outlook, citing a sustained loss of competitiveness and a failure to tackle structural problems which was eroding growth potential.

Moody’s also voiced concerns over France’s fiscal situation and the risk of knock-on effects from the euro zone crisis.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza