7 Aug 2013
Fitch affirms Germany at AAA, outlook stable
FXstreet.com (Córdoba) - Fitch Ratings has affirmed Germany's rating at 'AAA' with stable outlook.
Fitch said the German government has overachieved on some key fiscal targets. The government structural balance was in surplus in 2012 for the first time since re-unification.
Fitch also believes the debt/GDP ratio has peaked. “Germany has all the ingredients of a declining public debt path”, Fitch said in a statement. “The economy is growing, the budget position is relatively favourable and nominal interest rates are low. Furthermore, while debt at 81.9% of GDP in 2012 remains elevated compared with the 'AAA' median of 49%, it is within the range consistent with a 'AAA' rating”.
Fitch said the German government has overachieved on some key fiscal targets. The government structural balance was in surplus in 2012 for the first time since re-unification.
Fitch also believes the debt/GDP ratio has peaked. “Germany has all the ingredients of a declining public debt path”, Fitch said in a statement. “The economy is growing, the budget position is relatively favourable and nominal interest rates are low. Furthermore, while debt at 81.9% of GDP in 2012 remains elevated compared with the 'AAA' median of 49%, it is within the range consistent with a 'AAA' rating”.