Moody’s revises France to positive

Moody's Investors Service said it affirmed France's Aa2 long-term issuer ratings and changed the outlook to positive from stable.

The ratings on France's senior unsecured bond ratings were also affirmed at Aa2.

Moody’s said the key drivers for the outlook change are: (a) The government's ambitious and wide-ranging reform program aimed at improving the economy's competitiveness and its growth prospects over the medium-term; and (b) the government's commitment to fiscal consolidation, with a focus on reducing expenditure on a structural basis and engineering a gradual decline in the public debt ratio.

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