On October 18, 2025, S&P Global announced its decision to downgrade France's long- and short-term credit ratings from 'AA-/A-1+' to 'A+/A-1', citing heightened uncertainty surrounding the country's public finances. The rating agency set a "stable" outlook for the new rating. The downgrade was influenced by projections that France's budget consolidation will be slower than previously expected, with the overall public budget deficit anticipated to be 5.4% of the nation's GDP for the current year. S&P also forecast that France's general government gross debt is likely to increase to 121% of its GDP by 2028, up from 112% at the end of the previous year. The announcement highlighted the challenges facing the French government in reining in its public debt. In separate news, S&P Global Commodity Insights announced the opening of a new office in Istanbul, reflecting the growing significance of Türkiye in global energy markets.