Moody's downgrades 7 French banks as the country's debt and political chaos looks set to spill into 2025 [Fortune]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: Fortune
The ratings agency downgraded a host of French banks, including the country's two largest banks BNP Paribas and Credit Agricole, on Tuesday, while upgrading their outlook from negative to stable. Moody's said “there is increasing uncertainty about the next government's ability to reduce the deficit beyond next year” as it reduced its credit ratings for banks with significant interest in French finances. On Sunday, Moody's downgraded France's debt rating from Aa2 to Aa3, reflecting growing pessimism that France will be able to address its €3.2 trillion national debt and a rising deficit under a hobbled political system. The move came just days after French President Emmanuel Macron appointed François Bayrou as the country's new prime minister following the government's collapse on December 4. Former PM Michel Barnier's government collapsed after his budget plan to reduce France's national deficit to 5% in 2025 received stiff opposition from Marine Le Pen's far-right national r
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MCO
Earnings
- 10/22/24 - Beat
MCO
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- MCO's page on the SEC website