Moody's warns on outlook for France

Rating agency Moody's has issued a warning on France's AAA-credit rating, saying it may downgrade its outlook for the country based on its overstretched budget.

Moody's warned it may change its "stable" outlook on the rating to "negative" in the coming months, based on concerns over its government's weakening financial position, the BBC reports. The agency said the global economic crisis has led to a "deterioration" in French government debt and it is concerned France's budget may be overburdened as it shoulders the cost of bailing out other eurozone nations. It added France must continue to implement the necessary economic and fiscal reform measures. France's finance minister responded by saying the government would do "everything in our...