Outlook remains stable
Vienna (OTS) - Creditreform Rating AG has given the unsolicited long-term sovereign rating for the Republic of Austria AA +. The outlook remains stable.
The following reasons are given, among others:
- Strong macroeconomic fundamentals, namely a very high level of prosperity and a well diversified and very competitive economy.
- Thanks to the government's rapid response to the crisis, the effects of the pandemic on the well-developing Austrian labor market could be largely contained, while the debt of the private sector is still at a comparatively low level.
- The very good institutional conditions in the country remain a major strength of the Republic of Austria.
Further details can be found in the attachment.
According to EU-VO, Creditreform Rating is registered as a European rating agency by BaFin and ESMA and a 100% subsidiary of the international Creditreform group of companies (www.creditreform-rating.de). Creditreform, Europe's most important creditor protection organization, was founded in 1879 and today looks after around 157.000 customers in 23 countries with services in risk and receivables management.