S&P Downgrades France's Credit Rating To AA+

Law360, New York (January 13, 2012, 8:41 PM EST) -- Credit ratings agency Standard & Poor's Ratings Services lowered France's long-term credit rating one notch down from its triple-A status Friday, saying the results of recent eurozone negotiations had not inspired confidence in European policymaking.

S&P said the downgrade reflected the agency's opinion on deepening political, financial and monetary problems within the eurozone.

“The outcomes from the EU summit on Dec. 9, 2011, and subsequent statements from policymakers lead us to believe that the agreement reached has not produced a breakthrough of sufficient size and scope...
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