Moody's downgrades France's credit rating

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Senior Economist Diego Iscaro from IHS Global has said Moody's downgrading of France's debt was not unexpected.

Speaking to the BBC he said, "It's obviously not good news but i don't think it's terrible news either."

Moody's downgraded France's debt from Aaa to Aa1, and kept its negative outlook, meaning it could be cut again.

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