Cac 40 flat as Fitch maintains AAA rating but downgrades outlook

<p>The French Cac 40 has not moved after Fitch kept the country’s top AAA rating.</p>

The Cac 40 is flat in trading this morning (December 14th) after leading credit ratings agency Fitch maintained France's AAA grade, but revised down its outlook to negative, indicating matters could worsen for the nation in the near future.

Rival organisations Standard & Poor's and Moody's have already taken the country down a notch.

Moody's downgraded France last month, with this being played down by the French finance minister Pierre Moscovici, while Standard & Poor's cut its credit rating in January

A credit rating downgrade means the nation is considered as a greater risk to lenders, which indicates the cost of borrowing from international investors may rise.

In the eurozone, only top economy Germany has maintained its AAA rating with all three major agencies, while outside in the wider European Union region, the UK has also kept its top grade.

At 09:55 GMY, the French Cac 40 was stable, making very slight gains to an index value of 3644 points.

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