Setback for the pressurized France: The US rating agency Standard & Poor’s downgrades its credit rating lowered by one grade. The previously planned reforms were not sufficient to improve the economic situation.

The rating agency Standard & Poor’s downgraded France. The credit will only rated as “AA”, the agency said on Friday. This is the third highest credit rating. Previously, the rating had amounted to “AA +”.

High unemployment weakens the will for significant reforms, the U.S. Agency justified the decision. The measures introduced by the government were not sufficient to improve the growth prospects of the country significantly.

Last year, Standard & Poor’s AAA rating, France had withdrawn from the first rating agency, as well as Moody’s. This year, the third major ratings agency Fitch followed this step. Standard & Poor’s is now once again the first rating agency that further downgrades France.

S & P had warned the country a few months ago before a further reduction in the credit rating, France would miss its targets for reform. But a further downgrade no threat for now, S & P raised its outlook from negative to stable on previously.

The further reduction of credit to French Prime Minister Jean-Marc Ayrault was. The credit rating remained “among the best in the world,” Ayrault said the radio station France Bleu Provence. The agency failed to consider all the reforms initiated by France in their analysis, in particular, brought to the way pension reform, added the Premier. In addition, Standard & Poor’s had been no negative outlook.

Ayrault defended the pension reform. “This is a good reform,” said the Premier. He was convinced that the law will be adopted by the end of the National Assembly. The Senate had rejected the proposal. The French government plans to increase the contribution period for pension gradually to 43 years. The comparatively low retirement age of 62 years, she wants to maintain. Without reform of the French pension fund threatens in 2020 to a deficit of 20 billion euros.

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