Third time unlucky as S&P cuts French rating
![view of Hotel de Ville (City Hall) in Paris, France at rainy night](https://assets.euromoneydigital.com/dims4/default/2c1362a/2147483647/strip/true/crop/4800x3200+0+0/resize/840x560!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F55%2F8a%2F7306c1ae4b71b7ab236207f73b23%2Frainy-paris-france-3jun24-alamy.jpg)
OATs held up as market did not see the one-notch downgrade as 'shock' or 'big surprise'
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