Fitch downgrades France's credit rating to "A+" due to growing government debt

France's credit rating has been downgraded from "AA-" (high degree of financial stability) to "A+" (moderately high level of creditworthiness) due to the country's growing public debt ratio and the ongoing political crisis. This was announced on September 12 on the website of the international rating agency Fitch Ratings.

Fitch Ratings has downgraded France's long-term foreign currency issuer default (IDR) rating from "AA—" to "A+," the article says.

According to the comments provided to this decision, the corresponding decrease was due to the country's high and constantly growing debt ratio, which is projected to increase to 121% of gross domestic product (GDP) by 2027. In addition, the political crisis impeding consolidation, weak financial reporting, and a high deficit in 2025, which Fitch Ratings predicts will amount to 5.5% of GDP by the end of 2025.

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Former French Prime Minister Francois Bayrou, to whom Sebastien Lecorny was appointed on September 9, admitted on August 6 that the country's debt to other countries was approaching critical levels.

Philippe de Vell, head of the doctoral program at Paris Descartes University, predicted the onset of a political crisis in France on September 8 in an interview with Izvestia. According to him, this situation will primarily affect the country's President Emmanuel Macron.

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