Moody's Reviews France's Aa3 Rating Today, With Negative Outlook in Place

Moody's was due to update its Aa3 rating on France on October 23, 2026, with the sovereign on a negative outlook set in October 2025. Aa3 is upper investment grade. A negative outlook signals more risk of a downgrade than an upgrade over the medium term, but does not guarantee one. Bond investors watch that gap closely.