Two of the three major credit rating agencies, Fitch and Moody’s, are set to make a pronouncement on France’s economic situation on April 26, leaving the government worried about a possible downgrade in its rating and subsequent increase in borrowing costs. However, on Friday, March 29, the City of Paris received “the best possible rating for a local authority,” a feat that the municipality is proud of, attributing it to the rigorous management of the city.
In its assessment, Moody’s specialized agency awarded the City of Light the high quality rating of “AA2” with a “stable outlook” for the long term. The independent agency highlighted the “strong governance and management of the City” and stated that “Paris’ debt will remain sustainable and its interest burden very affordable,” as reported by the Paris City Hall.
