France came under fresh economic pressure late Monday as the international ratings agency Moody's cut the French government bond rating by one notch from the highest level to "Aa1" and warned that an additional downgrade was possible.
The Eiffel tower is seen in Paris in October 2012. The international ratings agency Moody's cut France's top credit rating by one notch to "Aa1" Monday and maintained a negative outlook, meaning that another downgrade was possible.
Moody's was the second of the three major ratings agency to cut France's top rating, after Standard and Poor's did so in January. Fitch has maintained its assessment of French debt so far.