Downgrade for EFSF debt rating

City A.M. Reporter
FITCH Ratings has downgraded the European Financial Stability Facility’s (EFSF) guaranteed and long-term debt rating to AA+ from its previously-held triple-A rating.

It followed the downgrade of France’s long-term Issuer Default Ratings (IDRs) on 12 July.

The rating is still based on the assumption that the risk of fragmentation of the Eurozone remains low.