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Thursday, December 01, 2011

La note de la France degradée : Sarkozy sous tutelle, renversé le 17 Decembre 2011 ? Possible provocation de la DCRI et attentats en France ce mois de Decembre 2011 pour couvrir la chute de l'israelien

Egan-Jones downgrades France's credit rating

Ratings agency Egan-Jones on Wednesday cut its rating on debt issued by the Republic of France by one notch, citing a 21 percent increase in the country's debt in the last two fiscal years, which it called a "disastrous trend."

The agency predicted worse days ahead for the world's fifth-largest economy and cut France's senior rating to "A-" from "A." The reduction was based on a 21-point spike in the ratio of France's debt to its GDP between 2008 and 2010 plus weak growth in the Eurozone and rising unemployment.

Egan-Jones estimated that France's debt is now equal to about 90 percent of its GDP. The firm also noted that the country is facing rising pension costs, and the system is currently running at a deficit.
Egan-Jones also said it expects France to face rising costs for funding its debt as the crisis in Europe evolves.


"The deterioration in France's credit metrics combined with the needed support for France's banks are likely to pressure the country," the report said. "A major catalyst is likely to be the year-end financials for France's banks; watch for a significant support program to be announced over the next couple of weeks."
Egan-Jones is far smaller than Standard & Poor's, Fitch Ratings and Moody's Investors Service, which dominate some 95 percent of the global rating market.

The big three have not changed their top ratings on France, although Fitch and Moody's have warned that they could downgrade the nation's debt ratings.

 http://www.businessweek.com/ap/financialnews/D9RBAPH80.htm

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