Late on Friday, Fitch announced it ha downgraded France.
Fitch cited, the following key rating drivers and their relative weights (these are just the headline summary, more details can be found here):
High:
- Weak Fiscal Metrics
- Expenditure Rigidities; Uncertain Revenue Trajectory
- High Government Debt
- Higher Interest Expenses
Medium:
- Weaker Growth
- Social Unrest Complicates Policy-Making
--
At the margin this'll be a negative for the euro.
