Fitch affirms France's AAA credit rating - WAOW - Newsline 9, Wausau News, Weather, Sports

Fitch affirms France's AAA credit rating


LONDON (AP) -- Fitch ratings agency says it is keeping France's credit grade at Triple-A, but it is revising its outlook on the key eurozone nation to negative from stable.

Fitch says France's credit grade is supported by the country's wealthy and diversified economy and noted the government has adopted several measures to strengthen its finances.

It said, however, that France's debt is expected to rise to a peak of 92 percent of GDP in 2014.

French officials and investors had feared that France could get downgraded, which would have severe repercussions on European efforts to contain the debt crisis. France and Germany's AAA credit ratings underpin the rating for the eurozone's bailout fund.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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