Fitch has downgraded France's rating due to rising debt

At the beginning of September, the fourth government in a year lost the confidence of the divided French parliament.

On Friday, Fitch downgraded the country's long-term foreign credit rating to “A+” from “AA-”. According to the agency, the main problem is rising debt, which significantly limits the government's room for maneuver in dealing with future crises.

According to Fitch, public finances are already strained, and a further increase in debt could weaken the country's stability.

The downgrade could affect the French government's borrowing costs.

(reuters, sie)