FXstreet.com (Barcelona) - Fitch rating agency announced on Wednesday that it had maintained Germany's rating at the top AAA level, with a stable outlook.
According to the official publication: “The affirmation reflects Germany's longstanding credit strengths and robust economic performance over the past two years. Against the background of fragile global recovery and the intensification of the eurozone crisis, Germany has recorded strong GDP growth and a declining trend in unemployment, partly as a result of previous structural reforms.”
The agency warns however that the country's exposure to the “systemic component of the crisis” as well as its potential further contributions to bailouts for distressed EU countries might put downward pressure on the rating.
According to the official publication: “The affirmation reflects Germany's longstanding credit strengths and robust economic performance over the past two years. Against the background of fragile global recovery and the intensification of the eurozone crisis, Germany has recorded strong GDP growth and a declining trend in unemployment, partly as a result of previous structural reforms.”
The agency warns however that the country's exposure to the “systemic component of the crisis” as well as its potential further contributions to bailouts for distressed EU countries might put downward pressure on the rating.
