Funding & Business
France’s Debt Woes Mount as Fitch Downgrades Credit Rating
Fitch Ratings downgraded France, indicating the upheaval of repeated government collapse has locked the country into an enduring battle to contain a swelling debt burden.
The rating company cut its credit assessment to A+ from AA-, taking it a notch lower than the UK and on par with Belgium. Among the main arbiters of sovereign borrowers, Fitch’s France rating is now the lowest at six levels above junk.
Botswana’s credit rating was cut by S&P Global Ratings, another blow to its diamond-dependent economy that’s struggling with a slump in demand for its gems.
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Snam SpA’s purchase of a stake in German gas network operator Open Grid Europe from Abu Dhabi’s Infinity Investments is unlikely to close this month as planned, Il Sole 24 Ore reported.
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