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PARIS, Nov 23 AFP

November 23 2012, 7:40PM

Standard and Poor's is holding to a downgraded AA+ rating for France and says the outlook remains negative, four days after Moody's cut its top rating for the country by one notch and warned more could come.

S&P, which downgraded France from top notch in January, referring to recent French announcements on the economy, said on Friday although the government was "determined to carry out budgetary and structural reforms" France's long-term outlook was "negative".