France merits top credit rating: SandP

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France merits its top credit rating, the head of a leading credit rating agency said on Wednesday.

The remark was made by the president of Standard & Poor's, Deven Sharma, to the business newspaper Les Echos, the day after the government here said that its rating was sound and two days after it rejected a suggestion that France might be touched by the eurozone crisis.

"Our analysts ... consider that at the moment France merits its AAA rating, as indicated in the outlook 'stable' on this rating," Sharma said.

But he did not rule out the possibility that France could one day lose this rating.

"Any rating is liable to be adjusted if conditions change,"he said, noting that the rating for Japan had been reduced in 2001 and for Spain in January 2009.

© 2010 AFP

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