PARIS, Oct. 25 (Xinhua) -- The international ratings agency Stanandard and Poor's (S&P) announced Thursday to downgrade France's leading Bank BNP Paribas as well as other three French banks because of the economic downturn.
The BNP Paribas ratings were lowered by one notch from "AA-" to "A+" for the long term notes and from "A-1+ " to " A-1" for the short term notes.
The ratings agency also placed the Credit Agricole, the Society Generale and other eight French banks on negative outlook.
S&P views French bank sectors exposing to higher economic risks and have the potential of a more protracted recession in the eurozone.
France has been grappling with sluggish economy along with other European Union states for three years. It lost its AAA credit rating on Jan. 13 this year after S&P lowered the ratings to AA+.