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OeNB´s Nowotny Says Regaining AAA Credit Rating Can Take Years
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Published: February 25, 2012; 17:06 ♦ (Vindobona)
European Central Bank Governing Council member Ewald Nowotny said history has shown that it can take years for a country to win back an AAA rating.
OeNB´s Nowotny Says Regaining AAA Credit Rating Can Take Years / Picture: © Vindobona.org
“If we just look at this in practice, one can see that an AAA rating can be lost quickly, but that it can take a very long time to regain it,” Nowotny, who also heads the Austrian central bank, told reporters in Vienna today.
Austria and France lost their AAA rating at Standard & Poor’s on Jan. 13, as the rating company also downgraded seven other euro nations, citing…
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