Vienna / Bangalore (Reuters) – Fitch Ratings has withdrawn from the top AAA Austria. With the downgrade to AA +, the Alpine Republic has only in one of the three major agencies – Moody’s – the highest rating.
The view However stable, thus further change in the rating is not present in the near future. The country does not expect any negative consequences of the step. The financial situation will not thereby made more difficult, the Finance Ministry said on Saturday. Generally increase by poorer ratings, the financing costs for countries by having to pay higher interest rates. For Austria, which wants to get this year from 22 to 24 billion euros on the market, they are currently so low as never before. The average of the last year was 0.91 percent.
The reason for the downgrade was at Fitch on Friday evening, the debt mountain in Austria will grow stronger and longer remain high as previously thought. This is due, in the state aid for the country’s banks. In addition, the pressure on the financial sector of the country because of the economic crisis in Russia and the conflict in eastern Ukraine remain high. The institutions are heavily involved in Eastern Europe. In addition, the Austrian economy schwächele. This could jeopardize the medium-term growth prospects, it said Fitch. Standard & amp; Poor’s (S & P) had the highest rating for Austria tilted by 2012.
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