ParisFrance’s economy shrank 0.1% before Fitch cut its outlook.
Fitch is now the most pessimistic of the 3 major agencies rating France.
10-year yields hover near 5%, debt nears 120% of GDP, and the German spread is widest since 2011.
Fitch kept the A+ rating and cited a wealthy, diversified economy and resilient banks.
Finance minister Roland Lescure wants a budget cutting the deficit to 5% by year-end.
How each outlet framed it
drawn from 50+ reports worldwide
- Financial Times News leans critical
- ties the out-of-cycle Fitch move to the Q3 contraction and cites Moody's Aa3 as the most pessimistic-to-optimistic spread
Sources: Financial Times News