France’s credit rating was downgraded Moody’s Ratings after far-right leader Marine Le Pen toppled the country’s government in a dispute over deficit reduction.

Credit ratings agency Moody's unexpectedly downgraded France's rating on Friday, adding pressure on the country's new prime minister to corral divided lawmakers into backing his efforts to rein in the strained public finances.

France's newly appointed premier faces the challenge of bringing down the country's spiraling fiscal deficit and thrashing out a 2025 budget.