France Outlook Changed to Positive by Moody's on Macron Reforms

(Bloomberg) -- France affirmed by Moody’s; outlook changed from stable.

• Moody’s cites French President Emmanuel Macron’s ambitious and wide-ranging reform program and the government’s commitment to fiscal consolidation
• Reform program won’t be fully implemented until late next year, and the impact of these reforms on growth and France’s balance sheet won’t be visible for some time, Moody’s says
• Moody’s sees France’s budget deficit declining further to 2.3% of GDP this year
• Moody’s unlikely to consider possibility of rating upgrade until end of 2019 or early 2020
• NOTE: April 24, A Year After Win, Markets Still Fans of Macron. What’s Next? (1)

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