S&P affirms Germany's top AAA credit rating

FXstreet.com (Łódź) - Standard & Poor's Ratings Services announced on Friday its decision to maintain Germany's sovereign credit rating unchanged at AAA, with a stable outlook. The agency justified its decision by saying that they see the German economy as competitive and resilient, “with a demonstrated ability to absorb large economic and financial shocks.”

“Germany's public finances and strong external balance sheet will continue to withstand potential financial and economic shocks,” the ratings agency said, adding that they also expect a continuation of prudent monetary polices.

“We expect these factors to contain the net general government debt ratio and sustain the economy's net external creditor position. The stable outlook is also predicated on our expectation of an orderly resolution of the simmering debt crisis in parts of the Eurozone.”