Austria loses best credit rating from rating agency Fitch – FAZ – Frankfurter Allgemeine Zeitung

Austria loses best credit rating from rating agency Fitch – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          Alps with flag: Tirol .
     

 
                                           
 
 
     
     
     
         
         
                                                             

The rating agency Fitch has withdrawn the top grade because of its significant increase in debt Austria. The perception of the creditworthiness of the Alpine republic had been reduced by one notch from “AAA” to “AA +”, the institute said on Friday evening. With further gradations Austria has not initially expected, the outlook was reduced by Fitch to “stable”.

                         
         
         
                                                             
                                 

The agency pointed to the until recently not expected large increase in government debt to 89 percent of gross domestic product (GDP). This is higher than in all other states with a top rating – apart from the United States. In addition, Fitch expects that Austria will reduce its debt more slowly than had been previously expected. Previously, the agency had expected that the national debt will go back to 2017 to 70 percent of GDP.

                         
         
         
                                                                                                                                                                      

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The major rating agency Moody’s Austria has the highest rating in “Standard & amp; Poor’s, “however, only the second best. The Ministry of Finance in Vienna said the downgrade was triggered “by the European system and the active processing of the liabilities of various banking restructuring recalculation of the debt” by. Therefore they fear no negative consequences, Austria remains “one of the best places for investors.”

                         
         
         
                                                     
 
 
 
     
     
                                 

                 
         
                 
                     
                                                                                                                             
                     
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Austria loses the best credit rating

Austria rising government debt. Therefore, the rating agency Fitch has downgraded the country. The government still is optimistic.
  

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