Fitch affirms top-notch, triple-A debt rating for 'stable' Germany
January 25, 2014, 12:03 am TWN
FRANKFURT--International credit rating agency Fitch affirmed Friday the top-notch triple-A rating on Germany's sovereign debt and said the outlook was stable.
"Germany continues to have the components of a declining public debt path. The economy is growing, the budget position is relatively favorable and nominal interest rates are low," Fitch said in a statement.
The ratio of general government debt to gross domestic product (GDP) "has already started to fall in Germany, unlike its AAA-rated eurozone peers" and France, Britain and the United States, the rating agency said.
Fitch estimates that Germany's debt ratio has eased to around 79.4 percent in 2013 from 81 percent in 2012.