Current France credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive France ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of France, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
The table below shows the current France credit ratings, according to the main rating agencies.
| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | AA- | - | 1 Jun 2024 | rating downgrade |
| Moody's Investors Service | Aa2 | - | 22 Feb 2020 | outlook downgrade |
| Fitch Ratings | AA- | - | 1 May 2023 | rating downgrade |
| DBRS | AA (high) | - | 19 Oct 2020 | rating downgrade |
France: Long-term Rating Scales Comparison
France long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with France sovereign debt. These scales help investors understand the likelihood that France will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
with Lazy Portfolios and Passive Investing
Use top metrics to evaluate
Choose Bond ETFs to control risk
Join the passive investing strategy
France Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 1 Jun 2024 | AA- | |||
| 1 May 2023 | AA- | |||
| 5 Dec 2022 | AA | |||
| 19 Oct 2020 | AA (high) | |||
| 16 May 2020 | AA | |||
| 18 Apr 2020 | AAA | |||
| 22 Feb 2020 | Aa2 | |||
| 4 May 2018 | Aa2 | |||
| 21 Oct 2016 | AA | |||
| 29 Apr 2016 | AAA | |||
| 18 Sep 2015 | Aa2 | |||
| 12 Dec 2014 | AA | |||
| 7 Nov 2014 | AAA | |||
| 14 Oct 2014 | AA+ | |||
| 10 Oct 2014 | AA | |||
| 8 Nov 2013 | AA | |||
| 12 Jul 2013 | AA+ | |||
| 16 Feb 2012 | Aa1 | |||
| 13 Jan 2012 | AA+ | |||
| 16 Dec 2011 | AAA | |||
| 5 Dec 2011 | AAA | |||
| 12 May 2011 | AAA | |||
| 10 Aug 1994 | AAA | |||
| 23 Jan 1979 | Aaa | |||
| 25 Jun 1975 | AAA |
with Lazy Portfolios and Passive Investing
