Credit rating agency Moody's Investor Services has downgraded its rating of the European Stability Mechanism (ESM) - Europe's bailout fund - because of increased concerns over the financial health of France.
Moody's has cut its AAA-rating by one notch, to Aa1, in a move which comes after the agency downgraded France, one of the main supporters of the ESM, in November. Klaus Regling, managing director of...
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