Moody’s maintains French AAA rating for now

PARIS—Ratings agency Moody’s says it is maintaining France’s top-tier AAA credit rating for now after the country was downgraded by rival Standard & Poor’s.

Moody’s maintained France’s outlook at stable. S&P rates France’s outlook as negative.

Moody’s cited the economy’s overall strength but said growth prospects present “risks to the French government’s fiscal consolidation plans.”

Moody’s said in a statement Monday that it “will update the market during the first quarter of 2012 as part of the initiative to revisit the overall architecture of our sovereign ratings in the EU.”