The opposition in French Polynesia says it has been advised by Standard and Poor's that the territory's credit rating will be downgraded.
In March, French Polynesia's rating was downgraded from BBB- to BB+ when the Tahoeraa Huiraatira was part of the coalition government .
The Tahoeraa blames the deteriorating situation on the President, Oscar Temaru, who returned to power last April, saying the territory is now threatened by an irreversible catastrophe as it faces insolvency.
This comes just days after Mr Temaru warned that public servants were at risk of not being paid at the end of the month.
He says this is likely as the French state has blocked a 22 million US dollar loan from the French Development Bank.