Standard & Poor's credit rating for France stands at AA with stable outlook. Moody's credit rating for France was last set at Aa2 with stable outlook. Fitch's credit rating for France was last reported at AA with negative outlook. DBRS's credit rating for France is AAA with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of France thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for France as reported by major credit rating agencies.


AgencyRatingOutlookDate
FitchAA Negative May 15 2020
DBRSAAA Negative Apr 17 2020
Moody'sAa2 Stable Feb 21 2020
Moody'sAa2 Positive May 04 2018
S&PAA Stable Oct 21 2016
DBRSAAA Stable Apr 29 2016
Moody'sAa2 Stable Sep 18 2015
FitchAA Stable Dec 12 2014
DBRSAAA Negative Nov 07 2014
FitchAA+ Negative Watch Oct 14 2014
S&PAA Negative Oct 10 2014
DBRSAAA Stable May 30 2014
S&PAA Stable Nov 08 2013
S&PAA Stable Nov 08 2013
FitchAA+ Stable Jul 12 2013
Moody'sAa1 Negative Feb 16 2012
S&PAA+ Negative Jan 13 2012
FitchAAA Negative Dec 16 2011
S&PAAA Negative Watch Dec 05 2011
DBRSAAA Stable May 12 2011
FitchAAA Stable Sep 21 2000
FitchAAA N/A Aug 10 1994
S&PAAA Stable Jun 26 1989
Moody'sAaa Stable Jan 23 1979
S&PAAA N/A Jun 25 1975

 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 62
CCC+ B3 B- 23
D Ca RD CC 10
Ba3 BB- 16
BBB+ BB 55
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 48
BB Baa3 52
B+ B2 BB- 35
BB- Ba3 BB- 40
B- Caa1 22
B B3 B 26
AA Aa3 AA- AA (high) 86
CCC Caa1 20
B+ B2 B 31
A+ A2 N/A 78
B+ B1 B+ 36
B B3 27
BBB+ A2 72
BB- Ba2 BB- BB (low) 42
BBB Baa2 BBB 60
B 25
N/A B2 30
B- B2 B 28
AAA Aaa AAA AAA 99
B B- 30
Aa3 85
A+ A1 A N/A 78
A+ A1 A+ A (high) 80
BBB- Baa2 BBB- BBB 57
CCC+ Caa1 20
B+ B2 B 33
BBB- Ba2 BBB- 51
Caa2 15
BBB- Ba2 BBB- BBB (low) 50
AA- Aa3 AA- 83
AAA Aaa AAA AAA 100
BB- Ba3 BB- 40
SD Caa3 RD 13
B B2 B+ 30
B- B3 B- 25
AA- A1 AA- AA (low) 83
B B2 B 31
AA Aaa AAA AAA 98
BB- Ba3 37
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 CCC 26
BB Ba2 BB 45
AAA Aaa AAA AAA 100
B B3 B 23
BB- B1 BB BB (low) 37
SD
BB- Ba1 BB- 45
BB- B1 35
AA+ Aa3 AA- 90
BBB Baa3 BBB 58
A A2 A 75
BBB- Baa2 BBB- BBB 57
BBB Baa2 BBB 60
B- Caa1 B- 23
AA- A2 A+ A (high) 78
N/A Aa2 90
AA- A1 A+ 81
BBB Baa3 BBB- BBB (high) 61
Ba3 B+ 37
B+ B2 B+ 33
A+ A1 A A (high) 77
B+ B1 BB- 36
BBB- Baa3 BBB 56
B+ B2 B+ 33
AA- Aa2 AA 88
NR B2 30
B3 B- 25
A+ A3 A- A (low) 73
SD Ca RD 11
B 35
AAA 100
A+ A3 A A 75
AAA Aaa AAA AAA 100
Aa3 AA 87
BB- BB+ 45
A- A3 A- 70
B3 B 30
B3
A- A2 A+ A (high) 75
Baa1 65
BBB Baa1 BBB- BBB 60
B3 25
B B3 B 28
B+ B1 35
BBB- 55
BBB- Ba1 BBB- 53
CCC+ Caa2 CCC 14
Ba2 BB 45
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B3 B- 26
B3
B- B2 B 30
AAA Aaa AAA AAA 99
BB- Ba2 BB 43
B- B3 B- 25
BBB+ Baa1 BBB 63
B- B2 30
BB Ba1 BB+ 46
BBB+ A3 BBB+ N/A 65
BBB+ Baa2 BBB 61
A- A2 A- A 71
BBB Baa3 BBB BBB (high) 71
D 0
AA- Aa3 AA- 85
B- Caa2 CCC 20
BBB- Baa3 BBB- 55
BBB- Baa3 BBB 55
B+ B2 B+ 31
BB+ 55
A- A1 A 75
B+ Ba3 37
BB+ Ba3 BB+ 46
B+ 45
AAA Aaa AAA AAA 98
A+ A2 A A (high) 78
AA- Baa1 A A (high) 75
B3 25
BB- Ba1 BB 46
AA Aa2 AA- 86
A Baa1 A- A 70
B- B2 B- 28
B3 25
CCC+ B3 CCC 23
B2 30
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3 25
B1
BBB+ Baa1 BBB+ 65
B B3 30
BBB- Ba1 52
N/A B2 B 31
B+ B1 BB- BB (high) 36
B B2 B+ 33
B Caa1 B 26
AA Aa2 AA 90
AA Aa2 AA- AAA 91
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
BB- B1 BB- 38
SD WR RD 11
BB Ba3 BB 43
CCC Ca CC 30


Credit Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com