Unédic, as an issuer of debt in the financial markets, is rated by two agencies, Fitch Ratings and Moody's. They conduct an annual comprehensive review to assess Unédic's ability to meet its debt obligations, including the repayment of the principal on its borrowings and the payment of associated interest.
Following interviews with the rating agencies conducted in June 2023, Fitch Ratings and Moody's delivered their findings, reaffirming their confidence in Unédic. In both cases, the agencies confirmed Unédic's ratings at the same level as those assigned to the French government.
Fitch Ratings assigns Unédic a rating of AA-. The agency notes that "Unédic's financial situation significantly improved in 2022." Fitch Ratings' highest rating is AAA.
Moody's assigns Unédic a rating of Aa2. "Unédic will continue to accumulate significant surpluses over the next two years, allowing it to reduce the substantial debt stock accumulated during the pandemic," the agency writes. Moody's highest rating is Aaa.
These ratings reaffirm the sustainability of the unemployment insurance system's debt, enabling it to fulfill its role as an economic and social stabilizer in France.
