France Credit Outlook Improves

France’s credit outlook was changed to positive from stable by Moody’s Investors Service Inc., which cited the government’s economic reform plans and its focus on fiscal consolidation, Bloomberg reported. Moody’s also affirmed the nation’s Aa2 long-term issuer rating, its third-highest score, the firm said in a statement. “The government has presented a broad and ambitious agenda of structural reforms which in Moody’s view should go a long way towards correcting the key underlying causes of France’s competitiveness challenges,” Moody’s said. A shift in policy toward spending cuts will improve France’s fiscal strength in the medium term, also boosting the outlook, according to Moody’s. The rating agency said: “The government has presented a broad and ambitious agenda of structural reforms which in Moody’s view should go a long way towards correcting the key underlying causes of France’s competitiveness challenges, relatively high structural unemployment and moderate growth performance, provided they are fully implemented.”