New York, NY, United States (4E) – Standard & Poor’s Ratings Services affirmed Germany’s sovereign ratings, citing the nation’s competitive and highly diversified economy.
The ratings agency maintained the top-notch AAA rating with ‘stable’ outlook for Europe’s largest economy. Germany has showed its ability to absorb major economic and financial shocks, S&P said.
The ‘stable’ outlook is also a reflection that Germany’s public finances will continue to withstand potential financial and economic shocks and there is consensus that prudent economic policies will stay in place.
S&P also affirmed Ukraine’s long-term currency sovereign rating at CCC and improved the outlook to ‘stable’ from ‘negative’.
The ratings agency said the ‘stable’ outlook is a reflection of the stabilizing effects of the International Monetary Fund’s $17bn program to help Ukraine’s deteriorating macroeconomic situation.
The report also noted that Ukraine’s new government under Prime Minister Yatsenyuk has been stable and relatively cohesive.