Business

France confident on AAA rating, despite S&P warning

Leading the way: French president Nicolas Sarkozy has been central to talks on a reorganisation of the eurozone
11 April 2012

French Finance Minister Francois Baroin shrugged off the threat of losing its AAA rating today and said the nation would have no problems raising debt in 2012.

Baroin's comments come a day after S&P warned that it may downgrade eurozone countries if leaders fail to deliver a comprehensive deal to rescue the bloc.

Asked on Itele television if France would be able to raise necessary funds in 2012 and have enough to pay its civil servants, Baroin said France would have no problems raising debt.

"We managed it without any difficulty last week, we had a (bond) auction that took place in very good conditions and we won't have any difficulty naturally in placing our debt."

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