Fitch Rates France Triple-A
Though, France is a nation with a top-notch credit grade and Fitch Ratings are rating the country with triple-A only while waiting for a review on Friday. A recent report has been claiming that the Fitch has been suspecting a rise in debt of the country in the year 2014.
As per the findings, Fitch is the one and only agency, which keeps the AAA rating on the second-largest economy of the euro zone. It is being said by the group that there is only little fear that there would be a downgrade down the future by above 50%.
It is being said by managing director that the deficit is being expected at national output's 3.6%. The same is above 3% more than the figures expected by the government of President Francois Hollande.
The agency has been able to hope a growth by only 0.3% in the year 2013. However, the 2013 budget has been built on 0.8%, significantly high than the growth expected.
"The combination of weaker growth and larger deficits compared to the government forecasts mean government debt may peak at 94 percent of GDP in 2014 and gradually decline thereafter", Fitch managing director David Riley was quoted as saying.
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