13th December 2014 11:57 clock

Fitch

The company building the rating agency Fitch in New York | © Justin Lane / EPA / dpa

The rating agency Fitch credit rating reduced from France. The credit rating of the country was downgraded from AA + to AA, Fitch said. “The weak economic outlook affects the fiscal consolidation and the stability of the debt ratio,” the agency’s decision was.

Fitch mid-October, the outlook for France evaluated and threatened to downgrade the country’s credit with negative. The agency had warned the French government to reform its economic policy. For the first time in four years the economy of France is less growth than the average of all economies in the euro zone.

The Euro Group had previously asked France to save to the requirements of the Euro Stability Pact to be observed. “More austerity measures are needed,” said euro-group boss Jeroen Dijsselbloem.

The department heads so that was followed by the EU Commission. The France, Italy and Belgium had a deadline of March 2015 set in November to organize their budgets for the coming year. Since France is the excessive deficit procedure since 2009, threatening the country billions in penalties.

In AA by Fitch is the third best credit rating. The Standard & amp; Poor’s had downgraded France in November 2013 AA credit rating. Moody’s graded France with the second best score, AA1.