Moody’s kept France’s credit rating at Aa3, which it still considers high grade, while maintaining a negative outlook. The agency said that political fragmentation and social tensions could impair the functioning of institutions and hinder the government’s response to key policy challenges. France, the euro zone’s second-largest economy, saw its 10-year government bond yield exceed 5% for the first time since 2002, while the spread over German bonds reached a 15-year high. Its deficit stands at roughly 5.5% of GDP, above the EU’s 3% limit, and more than $1 trillion of debt will mature by 2030, with the debt-to-GDP ratio projected to reach 121.7% in 2027 according to the finance ministry.
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