(Bloomberg) -- France’s credit outlook was changed to positive from stable by Moody’s Investors Service Inc., which cited the government’s economic reform plans and its focus on fiscal consolidation.
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Moody’s also affirmed the nation’s Aa2 long-term issuer rating, its third-highest score, the firm said in a statement Friday.
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“The government has presented a broad and ambitious agenda of structural reforms which in Moody’s view should go a long way towards correcting the key underlying causes of France’s competitiveness challenges,” Moody’s said.
A shift in policy toward spending cuts will improve France’s fiscal strength in the medium term, also boosting the outlook, according to Moody’s.
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