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French Republic: EJR rates at BBB+ (Neg.) (S&P: AA+) (223727Z FP)
Synopsis: For the most part, over the past 18 months France has been exempted from the rise in funding costs. However, as the crisis evolves, we expect that France will be pressured. The deterioration in France's credit metrics combined with the needed supported for France's banks are likely to pressure the country. A major catalyst is likely to be charges for the weakened periphery countries. Hollande will be under pressure to keep campaign promises which will ultimately hurt credit quality.
Originally posted by skuly
And now for your daily downgrade news......
There not much left to say on the euro crisis other than the speed of events is now
With spain borrowing cost now over 7% and italy not to far behind also looking like
it will need a bailout soon the chances of another credit crunch before the end of
the year is increasing.
For some more info try lacrimaererum thread for more reading on this total mess.