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Moody's downgrade is reason to pursue reforms - France

Reuters

PARIS (Reuters) - Finance Minister Pierre Moscovici said a downgrade of France's debt rating by Moody's was motivation to pursue structural reforms and added France remained committed to meeting a goal to cut its public deficit to 3 percent of output next year.

Moscovici said the one-notch downgrade to Aa1 (SNP: ^AA1Y - news) from triple-A by Moody's Investors Service late on Monday was a reflection of the country's economic management of past years and said French sovereign debt remained among the most liquid in the euro zone.

"Moodys is now giving France the same rating as Standard & Poor's, which has allowed us to live with low interest rates for many months," Moscovici told Reuters.

(Reporting by Jean-Baptiste Vey and Nick Vinocur; Writing by Catherine Bremer)