Standard and Poor's held to a downgraded AA+ rating for France and said the outlook remained negative on Friday, four days after Moody's cut its top rating for the country by one notch and warned that more could come.

S&P, which downgraded France from top notch in January, referring to recent French announcements on the economy, said although the government was "determined to carry out budgetary and structural reforms" France's long-term outlook was "negative."