Fitch Ratings has ruled out the prospect of cutting France's AAA-credit rating this year but warned fresh downgrades are on the cards for Spain and Italy.
The ratings agency said France is safe from a downgrade until 2013 unless the country suffers major economic shocks. The firm added it will make a decision on potential downgrades for countries with ratings on ‘negative watch' by the end of this month - meaning Italy, Spain, Belgium, Slovenia, Ireland, Cyprus and Portugal all face possible downgrades in the next few weeks. Speaking this morning to Reuters at a seminar for investors, the group's EMEA sovereign ratings head Ed Parker said France's rating will be at risk only if the eurozone debt crisis deteriorates further. "On the b...
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