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Moody's downgrades France's credit rating

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.