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Paris, 10 October 2014
N° 053
Rati ng o f Fran ce b y Stan dar d a n d Po or 's: Fra nc e's rati n g is af firme d a t
"A A " wi th a " ne g ati v e" o utl o ok
Michel S APIN ta ke s no te of Stan dar d an d P oor 's d ec isi on a nd r eaf firms
the Fre n ch Sta te's cr edi t qu ali t y
Michel SAPIN, Minister of Finance and Public Accounts, takes note of Standard and Poor's
decision to affirm the long term rating of the French Republic to "AA" and to place the outlook to
"negative" from "stable". He reaffirms the French State's credit quality.
Minister Sapin reminds that, "despite an economic situation which weighs on our fiscal balance, the
government remains committed to implementing announced policies. We are implementing the
expenditure savings we announced as well as the Responsibility and Solidarity Pact, so as to gain
in competitiveness. We will pursue the needed reforms, to boost our medium term growth
prospects. Against the background of a weak recovery and a abnormally low inflation in the euro
area, each member country has to be up to its responsibilities and a coordinated economic policy
has to be set up at the European level in order to boost growth". As noted by Standard and Poor's,
France has significant assets including a diversified economy, a financial sector adequately
capitalized as well as a high wealth per capita.
Michel SAPIN reminds that the French debt is among the safest and most liquid ones in the world,
with a very contained debt service. It has a strong and deep investor base. Confidence from
investors feeds on a consistent economic strategy that the government intends to pursue with
determination.
Press contact :
Press office of Michel SAPIN +33 (0)1 53 18 41 13 sec.mfcp-presse@cabinets.finances.gouv.fr
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