Rating agency Fitch maintains France’s rating at A+ with a stable outlook

Ratings agency Fitch maintained France’s sovereign debt rating at A+ with a stable outlook on Friday, highlighting the size and diversification of its high-income economy, in a statement.

Fitch notes that France has a per capita income and governance indicators higher than the median of countries rated in the A+ category. On the other hand, “a high and increasing level of public debt, a socio-political context which complicates medium-term budgetary consolidation and a relatively low growth potential weigh on the rating,” specifies the agency.

“The government remains fully mobilized”

Fitch’s decision “is an extension of the efforts undertaken by the government as part of the 2026 budget to control public finances, support the growth of our economy and strengthen the attractiveness of France”, welcomed Roland Lescure, Minister of the Economy, in a press release.

And Roland Lescure added: “The government remains fully mobilized to continue reducing the deficit and debt, within a responsible and balanced framework, in order to guarantee long-term financial stability and French competitiveness. »

Growth a little better than expected in 2025

Fitch was the first of the three major rating agencies to downgrade France’s rating in September due to political uncertainty. The possible impact of the war in the Middle East was not considered at this stage.

In the fall, the agency deplored France’s “poor record” in terms of reducing the public deficit and respecting the budgetary rules of the European Union and was concerned about “the growing fragmentation and polarization of French political life”.

Six months later, we see that French growth in 2025 was a little better than what the government predicted, at 0.9% instead of 0.7%.