Moody's downgrades credit rating of France

NEW YORK (AP) — Moody's Investors Service is downgrading the credit rating of France, saying the French economy will grow slowly for the rest of this decade while the country's debt remains high.

Overall Moody's says France's creditworthiness is "extremely high" because of its large, wealthy, well-diversified economy, high per-capita income, good demographic trends, strong investor base and low financing costs.