S&P says it doubts French government policies will work in medium-term PARIS, Nov. 8 (UPI) -- Standard & Poor's said Friday it had dropped France's credit rating from AA plus to AA, citing a lack in faith in the government's policies. "We believe the French government's reforms to taxation, as well as to product, services, and labor markets, will not substantially raise France's medium-term growth prospects, and that ongoing high unemployment is weakening support for further significant fiscal and structural policy measures," the rating agency said. S&P did mark the rating as "stable," an indication that the firm does not think France's economy will deteriorate significantly soon, The New York Times reported. French Finance Minister Pierre Moscovici sounded indignant. "Never has a government carried out so many reforms in such a short time ... and in such a difficult economic environment," he said, adding that he "regrets ... [S&P's] critical and inaccurate judgment.