France loses AAA-rating: source

Standard & Poor's has decided to downgrade France's top-notch credit rating but will spare Germany, Belgium, Luxembourg and the Netherlands, an EU government source told AFP on Friday.

 


“France loses its triple-A rating,” the source said on condition of anonymity.

Standard and Poor’s Corp earlier on Friday declined to comment on rumours on the markets that it was about to downgrade several eurozone credit ratings, as stocks and the euro turned lower after earlier gains.

In December, S&P warned that it could downgrade several eurozone countries – including France with its top AAA rating – as the debt crisis cuts growth.