Moody's strips France of their AAA rating

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Ratings agency Moody's has downgraded France's government bond rating by one notch from Aaa to Aa1. "France's long-term economic growth outlook is negatively affected by multiple structural challenges, including its gradual, sustained loss of competitiveness and the long-standing rigidities of its labour, goods and service markets,"

Moody's announced in a press release. France was stripped of its AAA rating by Moody’s rival Standard & Poor’s in January.

November 23, 2012

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