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France's Credit Rating Downgraded Amid Rising Debt Crisis

10/18/2025

Summary

Story summary

On October 17, 2025, S&P Global Ratings downgraded France’s credit rating from AA- to A+, citing rising public debt and political instability.
S&P projects France’s debt-to-GDP ratio will rise from 112% in 2024 to 121% by 2028.
Prime Minister Sébastien Lecornu’s government faces challenges passing budget reforms in a fractured parliament.
The downgrade followed actions by Fitch and DBRS, raising concerns about France’s fiscal credibility and borrowing costs.

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Story summary

On October 17, 2025, S&P Global Ratings downgraded France’s credit rating from AA- to A+, citing rising public debt and political instability.
S&P projects France’s debt-to-GDP ratio will rise from 112% in 2024 to 121% by 2028.
Prime Minister Sébastien Lecornu’s government faces challenges passing budget reforms in a fractured parliament.
The downgrade followed actions by Fitch and DBRS, raising concerns about France’s fiscal credibility and borrowing costs.