Austria 'AA+/A-1+' Ratings Affirmed; Outlook Stable

OVERVIEW We currently have little visibility on Austria's fiscal plans because, although the new government has said it would stick to the Austrian fiscal stability pact's limits, it remains to be seen how election promises will shape coming budgets. Irrespective of the noise surrounding Austria's new government, however, Austria's diversified and prosperous economy has developed very successfully, with high GDP growth, current account surpluses, and improving external balance sheets. We are therefore affirming our 'AA+/A-1+' ratings on Austria. The outlook is stable. RATING ACTION On March 16, 2018, S&P Global Ratings affirmed its 'AA+/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Austria. The outlook is stable. At the same time, we affirmed our 'AA+' long-term and

...OVERVIEW + We currently have little visibility on Austria's fiscal plans because, although the new government has said it would stick to the Austrian fiscal stability pact's limits, it remains to be seen how election promises will shape coming budgets. + Irrespective of the noise surrounding Austria's new government, however, Austria's diversified and prosperous economy has developed very successfully, with high GDP growth, current account surpluses, and improving external balance sheets. + We are therefore affirming our '##+/A-1+' ratings on Austria. + The outlook is stable. RATING ACTION On March 16, 2018, S&P Global Ratings affirmed its '##+/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Austria. The outlook is stable. At the same time, we affirmed our '##+' long-term and 'A-1+' short-term issue ratings on Austria's senior unsecured debt. We also affirmed our '##+' long-term local currency issue rating on the sovereign-guaranteed bond (XS0863484035)...

Ratings Action