Fekter Optimistic to Hold AAA-Rating

People ♦ Published: November 22, 2011; 16:07 ♦ (Vindobona)

Austria's Finance Minister expressed confidence on Tuesday that the country would hold on to its AAA sovereign rating.

Fekter Optimistic to Hold AAA-Rating / Picture: © ÖVP Bundespartei / Jacob Glaser

Maria Fekter stated that Austria will keep the triple-A rating after discussions with ratings agency Moody's, Reuters reports. Austria's borrowing costs, along with those of France and the Netherlands, have climbed sharply in recent weeks as contagion from the euro zone debt crisis spread to top-rated sovereigns.

Spreads on 10-year Austrian government debt over benchmark German…