The American rating agency S&P is looking more critically at the Alpine Republic. It lowers the outlook for Austria’s creditworthiness from “positive” to “stable”. The rating agency justified the downgrade with the possibility that Russia would further restrict its gas supplies to Europe. This poses a major risk to Austria and its main trading partners.
Ratings play a key role in determining the interest rate a country pays on its debt.
With “AA+” you are still a very good debtor in an international comparison.
The confirmation of the “AA+” rating is “fundamentally positive” for Treasury Secretary Magnus Brunner (ÖVP). The lowering of the outlook is “above all a warning about the future”. The current geopolitical situation carries risks, which is why the federal government continues to “work intensively to reduce dependence on Russian gas,” Brunner said on Saturday.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
