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Moody's downgrades France credit rating

  • Credit ratings agency Moody's downgraded France from its top rating on Monday.

    The country's debt has been reduced from AAA to AA1 and has kept its negative outlook, which means it could be downgraded again.

    In a statement, Moody's cited their decision based on the risk of a Greek exit from the euro, slower economic growth and the likelihood of France having to help bail out other countries.

    Rival agency Standard & Poor's downgraded France in January.