S&P affirms top-level rating for Germany; Ukraine’s rating maintained

Nathan Andrada – Fourth Estate Cooperative Contributor

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.

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