The European Commission today rejected rumours that France faces a credit rating downgrade after French banks' share prices took a huge hit on fears over their exposure to Greek debt. 'We have no comment to make on rumours circulating here and there about any downgrade for such-and-such country,' senior commission spokesman Olivier Bailly said when asked about France being hit on the markets by the sort of speculation that has already pressured Italy and Spain. 'You should maybe give a little more credence to the declarations that have been made by the global credit rating agencies,' Bailly said. He said the commission, which with the European Central Bank and the International Monetary Fund have already bailed out Greece, Ireland and Portugal, was 'neither ready nor willing even to comment on an eventual financial aid plan,' and said he 'would not go further' on the subject. The French government also categorically denied speculation that France might be the next major country to lose its top AAA status after the US lost the coveted credit rating last week. The Fitch ratings agency later confirmed that France was retaining its top triple-A credit rating and said the outlook was stable. An EU source indicated that officials suspect 'clear manipulation' in the case of French bank Soci