Creditreform Rating AG confirms AA + for the Republic of Austria

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:

  1. Strong macroeconomic fundamentals, namely a very high level of prosperity and a well diversified and very competitive economy.
  2. 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.
  3. 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.

Inquiries & contact:

Creditreform Rating AG
Dr. Benjamin Mohr, chief economist
+49-2131-109-626
+ 49-172-9473375 (mobile)
B.Mohr@creditreform-rating.de
www.creditreform-rating.de