On the evening of Friday, September 12, the agency notation Fitch has lowered France's sovereign rating to A+ with a stable outlook.

mso-bidi-font-family:arial"> Fitch sanctions the country for its continuing political instability and budgetary uncertainties which are hindering the cleaning up of its very deteriorated public accounts. The agency considers it improbable to bring the public deficit below 3% of GDP in 2029 as This was the ambition of the outgoing government. According to the agency, “this instability weakens the ability of the political system to implement consolidation large-scale budget.”

France forecasts a public deficit of 5.4% of GDP in 2025, well above the 3% limit set by fiscal rules European countries, and its debt exceeds 3.3 trillion euros, or almost 114% of GDP.

Agencies like Fitch, Moody's, and S&P Global rank the credit quality of states, i.e. their ability to repay their debt, from AAA (the best grade) to D (default).