Moody's maintains Austria debt rating at 'AAA'
2011-07-26 15:50:22
Ratings agency Moody's maintained Austria's long-term debt rating at top notch AAA with a stable outlook on Monday, noting that the Austrian economy had remained strong throughout the financial crisis.
Austria is expected to achieve 3.0-percent economic growth this year after reaching 2.1 percent in 2010, largely on exports towards Germany.
The agency advised however that Austria should reduce its public debt, which was 72.3 percent of gross domestic product in 2010.
Moody's said that Austrian banks were on a solid footing, despite a high exposure to Eastern Europe throughout the economic crisis.