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DBRS revises outlook on France

DBRS changed to stable from negative the trend on France'slong-term foreign- and local-currency issuer ratings, while confirming theratings at AAA.

The agency said the French government's fiscal managementand policy, economic structure and performance, reflected in strong growth, arethe primary factors behind the April 29 trend revision.

Concurrently, the agency confirmed the country's short-termforeign- and local-currency issuer ratings at R-1(high), with the trend on theratings maintained at stable.

The ratings actions reflect the French economy's high levelof productivity, size and diversification, DBRS noted. The agency expects theoverall direction of France's macroeconomic and fiscal policies to remainintact following the 2017 presidential elections, facilitating a gradualreduction in the sovereign's high debt burden.