UpdateS&P downgrades France credit rating – finance minister

13 January 2012 21:41  [Source: ICIS news]

(adds updates throughout)

HOUSTON (ICIS)--Standard & Poor’s (S&P) has cut France’s triple-A credit rating by one notch, French finance minister Francois Baroin said on Friday, according to news accounts.

S&P downgraded France’s rating to AA+, Baroin said, according to news accounts.

According to several media reports citing S&P sources, the agency had notified European governments that it will soon announce the downgrade of France and Austria, currently two of the eurozone’s six AAA nations.

The other eurozone nations with AAA status are Germany, the Netherlands, Finland and Luxembourg.

S&P declined to comment on the reports.

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