- The Big Picture - http://www.ritholtz.com/blog -
France losing its AAA? Market says long overdue
Posted By Peter Boockvar On December 14, 2011 @ 2:36 pm In MacroNotes | Comments Disabled
While France faces the prospect of losing its AAA credit rating, likely from S&P first, the CDS market has already marked down its view of France’s creditworthiness. The cost of insuring French debt is more expensive than the following countries and I include their S&P FX credit rating: Brazil (BBB), Chile (A+), China (A+), Columbia (BBB-), Czech Republic (A+), Indonesia (BB+), Japan (AA-), Malaysia (A-), Mexico (BBB), New Zealand (AA), Panama (BBB-), Peru (BBB-), Philippines (BB+), South Africa (A-), South Korea (A) and Thailand (BBB+).
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/12/france-losing-its-aaa-market-says-long-overdue-2/
Copyright © 2008 The Big Picture. All rights reserved.