MOSCOW (Sputnik) – The rating agency also affirmed the current issue ratings on France's unsecured foreign and local long-term and short-term currency bonds.
"Persistent, although declining, budget deficits spurred by high government spending have resulted in general government debt (GGGD) that is projected by Fitch to peak at 98% of GDP in 2018, relative to a 'AA' category median level of less than 40%. High indebtedness limits France's ability to deal with fiscal or economic shocks and constitutes the main weakness to France's sovereign rating," Fitch said on Friday.
France’s short-term foreign and local currency IDRs remain at F1+, Fitch said.
