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Moody’s Downgrades Long-Term Credit Rating of Austria
Moody’s has downgraded the long-term credit rating of Austria, from "Aaa” to Aa1. In January 2012 rating agency Standard & Poors had reduced Austria’s rating from AAA to AA+, whereas in February 2015, Fitch did the same.
Moody’s Downgraded Long-Term Credit Rating of Austria / Picture: © Vindobona.org
The outlook was always left unchanged.
What determined the latest rating change by Moody’s was the weak long-term growth expectations.
In view of the poor growth rate it would be difficult to reduce the high state debt considerably and on a permanent basis.
Moody’s estimates Austria’s GDP growth rate at 1.3 percent/year on average until 2020.
While…
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