跟随惠誉步伐，标普下调法国信用评级至A+

Core Viewpoint - Standard & Poor's (S&P) downgraded France's credit rating from AA- to A+, marking a significant blow to the country's credibility amid rising debt burdens and political instability [1][4]. Group 1: Credit Rating Downgrade - France has lost two "AA" ratings from major credit rating agencies within a month, which may compel strict investment funds to sell French bonds [1]. - The downgrade places France at the same level as Spain and Portugal, six levels above junk status, with a stable outlook [1]. Group 2: Political and Fiscal Challenges - France's minority government is struggling to pass legislation to address its growing debt, with high budget uncertainty despite the submission of the 2025 budget draft [1][4]. - Recent political instability, including the dismissal of two prime ministers over budget issues, has raised concerns about a potential public finance crisis [4]. - The current Prime Minister, Sébastien Lecornu, has made compromises to maintain his position, including agreeing to increase fiscal deficit spending and suspending pension reform plans [4][5]. Group 3: Fiscal Targets and Economic Outlook - Lecornu aims to reduce the budget deficit from 5.4% of GDP this year to 4.7% next year, while maintaining a target of below 3% by 2029 [4][5]. - The spread between French and German 10-year government bond yields has increased by over 85 basis points recently, indicating rising borrowing costs for France [5][6]. - S&P warned that further deterioration in France's fiscal situation or economic growth prospects could lead to additional rating downgrades [6].