France's debt pile under scrutiny amid reviews by rating firms  

Credit score could be downgraded as bond markets and widening fiscal gap are in the spotlight

France has announced emergency spending cuts as its economy remains weak and tax receipts are falling short.

Upcoming rating assessments is set to test France’s bond markets by turning the spotlight on the country’s worsening debt picture.

A blow could arrive as soon as Friday, when Moody’s Ratings and Fitch Ratings review the nation’s credit score. The market sees a high chance the agencies will lower the outlook to negative. An actual downgrade could come next month, with S&P Global Ratings set to resolve a warning it has had in place for 18 months.