Fitch affirms France at A+ but changes outlook to negative
Fitch affirmed France’s sovereign rating at A+ on 30 October 2026 and revised its outlook from stable to negative, Reuters and AFP report. The decision changes the direction of its assessment without lowering the rating itself.
The agency cites weaker growth, fiscal deterioration and higher borrowing costs. It also judges that political fragmentation and social tensions complicate sustained fiscal consolidation. This assessment should be attributed to Fitch rather than presented as a certain forecast.
According to AFP, Economy Minister Roland Lescure reaffirmed the government’s target of reducing the deficit to 5%. This is a fiscal policy target, not an achieved result.
A negative outlook signals a risk of a subsequent downgrade. The material reviewed establishes neither a new rating below A+ nor a scheduled date for such a decision.