In France borrowers are said by Standard & Poor's in a bet the euro zone's second largest economy comes to grips with its budget deficit

Situation in France as one of the safest in the world, borrowers are said by Standard & Poor's in a bet the euro zone's second largest economy comes to grips with its budget deficit.

After a year in which the rating companies downgraded the debt of European nations from Spain to Ireland, New York, S & P said today that France deserves a AAA credit rating because of the sovereign "wealth and depth "of its economy and see that the government of President Nicolas Sarkozy will consolidate its budget deficit.

The announcement may encourage investors to buy French debt after the yield on the 10 years the country rose this week, analysts speculated the eurozone crisis of sovereign debt may cost the nation its higher grade. Fitch Ratings today downgraded the debt of Portugal in a separate level and said the crisis in Europe reflects investor concern about the euro "viability. "

"The stable outlook is based on our view of the important achievements of the French government with its budgetary consolidation strategy, enabling it to meet its fiscal targets through 2013, " analysts at S & P and headquartered in Madrid, Marko Mrsnik said in a report released today.

The cost of insuring the French public debt rose to a record this week, having tripled this year. The credit default swaps in the country are now more expensive than lower-rated securities in the Czech Republic and Chile, according to data provider CMA.

Rating of France was vulnerable to a rethinking of corporate credit rating due to its budget deficit and because its banks are the largest holders of debt issued by so-called peripheral countries, analysts said before today's announcement.