According to CoinMeta, France has temporarily avoided a downgrade by Moody's, with its sovereign credit rating remaining at AA3, but the outlook remains negative. Moody's warns that a slowdown in economic growth, an expansion of the fiscal deficit, rising financing costs, and social protests could hinder fiscal consolidation. France is expected to see a fiscal deficit of 5.4% this year, which is GDP. The government plans to reduce the deficit to 5% by 2027, but there is still uncertainty as to whether the budget can be passed due to a lack of majority support in parliament. On Friday, the French National Assembly rejected the revenue portion of the 2027 social security budget, and the main budget will continue to be reviewed next week. Pressure on the French bond market persists, with the yield on French government bonds increasing significantly this month, ranking among the highest in developed economies. The yield spread between 10-year French and German government bonds widened to 178 basis points on Thursday, from 85 basis points at the beginning of September. France has also recently faced a downgrade by Scope, and Morningstar has adjusted its rating outlook to negative, with Standard & Poor's expecting to update the rating on November 27.