Moody’s mulls French rating

Moody’s warned today it may slap a negative outlook on France’s Aaa credit rating in the next three months if the costs for helping to bail out banks and other Eurozone members stretch its budget too much. The warning comes as European Union leaders discuss ways to protect the region’s financial system from an expected Greek debt default. France’s progress on fiscal and economic reforms and potential adverse developments in financial markets or the economy will also be taken into account under the review, Moody's said. A negative outlook could be a sign France’s rating could be downgraded.