Credit Market Commentary: Market Derived Signal: The CDS Market Remains Nervous About France May 12
Standard & Poors, May 2012
Abstract
Although political dealings in France injected a degree of uncertainty into the country's future role in managing the eurozone sovereign debt crisis, the election of the new French President Francois Hollande over the weekend appeared to barely register in the credit market. The country's five-year credit default swap (CDS) spread widened a mere 4 basis points (bps) to 197 bps over the week ended May 8, according to CMA DataVision. In the past, Hollande has been considered a centrist within the Socialist party and supportive of a unified Europe. But the new president, who is something of an unknown outside of France, declared during his campaign that he wants to broaden the eurozone fiscal pact, which focused on austerity, to...
Companies mentioned in this report are: France (Republic of) (Unsolicited Ratings)
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
France (Republic of) (Unsolicited Ratings)
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