AAA Rating Confirmed for Austria

People ♦ Published: December 22, 2010; 18:46 ♦ (Vindobona)

The rating agency Standard & Poor’s; leaves Austria’s credit status unchanged.

AAA Rating Confirmed for Austria / Picture: © Wikipedia / Tsui

The creditworthiness of the Austrian state budget remains at an excellent level. Austria remains a "reliable and stable debtor” in spite of the high level of debt. The outlook is also rated as "stable".

In addition, Austria's economy is classified as "strong", with a consolidation plan "clearly defined” by the government. The moderate wage increases and the flexible labor…